Realta Investment Advisors Sells 12,575 Shares of Meta Platforms, Inc. (NASDAQ:META)

Realta Investment Advisors decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 74.4% in the third quarter, Holdings Channel reports. The fund owned 4,317 shares of the social networking company’s stock after selling 12,575 shares during the period. Meta Platforms accounts for 1.2% of Realta Investment Advisors’ investment portfolio, making the stock its 16th biggest holding. Realta Investment Advisors’ holdings in Meta Platforms were worth $2,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares during the last quarter. Rockline Wealth Management LLC boosted its holdings in Meta Platforms by 6.5% in the 1st quarter. Rockline Wealth Management LLC now owns 14,742 shares of the social networking company’s stock valued at $7,158,000 after purchasing an additional 904 shares during the period. Hunter Associates Investment Management LLC grew its position in Meta Platforms by 5.4% in the 1st quarter. Hunter Associates Investment Management LLC now owns 2,093 shares of the social networking company’s stock worth $1,017,000 after purchasing an additional 107 shares during the last quarter. Crown Wealth Group LLC increased its holdings in shares of Meta Platforms by 13.3% during the 1st quarter. Crown Wealth Group LLC now owns 1,887 shares of the social networking company’s stock worth $916,000 after purchasing an additional 221 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Meta Platforms by 16.1% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,304 shares of the social networking company’s stock valued at $1,604,000 after buying an additional 459 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 2.1 %

Shares of NASDAQ META opened at $572.43 on Wednesday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm’s 50-day moving average is $556.78 and its 200-day moving average is $513.67. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.45 trillion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts expect that Meta Platforms, Inc. will post 22.44 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms 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 transaction 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 legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction dated Monday, October 7th. The stock was 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 owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 243,919 shares of company stock valued at $129,296,067. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on META. Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. JMP Securities boosted their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $634.10.

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.