Marino Stram & Associates LLC Has $1.23 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Marino Stram & Associates LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,146 shares of the social networking company’s stock after selling 25 shares during the period. Marino Stram & Associates LLC’s holdings in Meta Platforms were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the period. Jennison Associates LLC increased its stake in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at $595,152,000. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Meta Platforms by 30.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after buying an additional 788,131 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank assumed coverage on Meta Platforms in a research note on Friday, October 11th. They issued a “sector perform” rating and a $585.00 target price for the company. Bank of America lifted their price objective on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Roth Mkm lifted their price objective on Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Pivotal Research assumed coverage on Meta Platforms in a research note on Tuesday, October 1st. They set a “buy” rating and a $780.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.20.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $582.01 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a 50 day moving average price of $547.72 and a 200 day moving average price of $509.22. The stock has a market capitalization of $1.48 trillion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.23 earnings per share. Analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the transaction, the chief operating officer now owns 5,559 shares in the company, valued at approximately $2,573,817. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,324 shares of company stock worth $132,218,368 over the last 90 days. Company insiders own 13.71% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.