Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Country Club Bank

Country Club Bank lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,172 shares of the social networking company’s stock after selling 92 shares during the period. Country Club Bank’s holdings in Meta Platforms were worth $4,636,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in META. Atticus Wealth Management LLC lifted its stake in shares of Meta Platforms by 34.9% in the 1st quarter. Atticus Wealth Management LLC now owns 1,182 shares of the social networking company’s stock worth $574,000 after acquiring an additional 306 shares during the period. New Mexico Educational Retirement Board lifted its stake in shares of Meta Platforms by 16.6% in the first quarter. New Mexico Educational Retirement Board now owns 134,250 shares of the social networking company’s stock valued at $65,189,000 after purchasing an additional 19,100 shares during the period. Merrion Investment Management Co LLC lifted its stake in shares of Meta Platforms by 4.7% in the first quarter. Merrion Investment Management Co LLC now owns 1,125 shares of the social networking company’s stock valued at $546,000 after purchasing an additional 50 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Meta Platforms in the first quarter valued at about $90,000. Finally, Cornerstone Wealth Group LLC lifted its stake in shares of Meta Platforms by 18.6% in the first quarter. Cornerstone Wealth Group LLC now owns 18,006 shares of the social networking company’s stock valued at $8,743,000 after purchasing an additional 2,824 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.9 %

Shares of META stock opened at $578.16 on Tuesday. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $296.86 and a fifty-two week high of $602.95. The firm’s 50 day moving average price is $552.03 and its two-hundred day moving average price is $511.04.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 earnings per share. On average, analysts anticipate that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on META. Raymond James raised their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. TD Securities raised their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. JMP Securities raised their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research note on Thursday, September 26th. Evercore ISI raised their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $621.63.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares in the company, valued at approximately $18,612,808.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,817 shares of company stock valued at $132,547,715. Corporate 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.