Meta Platforms, Inc. (NASDAQ:META) Stake Lessened by Pointe Capital Management LLC

Pointe Capital Management LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,861 shares of the social networking company’s stock after selling 190 shares during the period. Meta Platforms accounts for about 1.0% of Pointe Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Pointe Capital Management LLC’s holdings in Meta Platforms were worth $1,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in META. Custom Index Systems LLC grew its holdings in Meta Platforms by 1.9% during the third quarter. Custom Index Systems LLC now owns 3,141 shares of the social networking company’s stock worth $1,798,000 after acquiring an additional 60 shares during the period. Motiv8 Investments LLC boosted its position in shares of Meta Platforms by 17.5% during the 3rd quarter. Motiv8 Investments LLC now owns 1,708 shares of the social networking company’s stock valued at $978,000 after purchasing an additional 255 shares in the last quarter. Sterling Investment Advisors Ltd. grew its stake in shares of Meta Platforms by 2.3% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 5,877 shares of the social networking company’s stock worth $3,364,000 after purchasing an additional 134 shares during the last quarter. OMNI 360 Wealth Inc. raised its holdings in shares of Meta Platforms by 47.0% in the 3rd quarter. OMNI 360 Wealth Inc. now owns 991 shares of the social networking company’s stock worth $567,000 after purchasing an additional 317 shares in the last quarter. Finally, Park Edge Advisors LLC lifted its stake in Meta Platforms by 2.6% during the third quarter. Park Edge Advisors LLC now owns 3,518 shares of the social networking company’s stock valued at $2,014,000 after purchasing an additional 88 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.2 %

Shares of META stock opened at $591.80 on Thursday. The stock’s 50 day simple moving average is $554.49 and its 200 day simple moving average is $512.18. Meta Platforms, Inc. has a twelve month low of $296.86 and a twelve month high of $602.95. 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 company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.99, a PEG ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.23 earnings per share. As a group, research analysts predict 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. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on META. Evercore ISI upped their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. DA Davidson initiated coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. KeyCorp lifted their price target on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $621.63.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. 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 accessible through this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,818 shares of company stock worth $132,569,993 over the last ninety 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.