SRN Advisors LLC Lowers Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

SRN Advisors LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 66.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,835 shares of the social networking company’s stock after selling 3,712 shares during the quarter. SRN Advisors LLC’s holdings in Meta Platforms were worth $1,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the period. Finally, Halpern Financial Inc. bought a new position in Meta Platforms during the 3rd quarter worth approximately $46,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $593.28 on Wednesday. The firm has a market cap of $1.50 trillion, a P/E ratio of 34.08, a PEG ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $296.86 and a twelve month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $553.36 and a 200 day moving average of $511.61.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.23 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, KeyCorp boosted their price target on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $621.63.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the sale, the chief operating officer now directly owns 5,147 shares of the company’s stock, valued at $2,684,057.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,230 shares of company stock worth $132,784,843. Company insiders own 13.71% of the company’s stock.

Meta Platforms Profile

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.