Lmcg Investments LLC Decreases Position in Meta Platforms, Inc. (NASDAQ:META)

Lmcg Investments LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 22,032 shares of the social networking company’s stock after selling 298 shares during the period. Lmcg Investments LLC’s holdings in Meta Platforms were worth $12,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sollinda Capital Management LLC raised its position in shares of Meta Platforms by 14.4% during the 3rd quarter. Sollinda Capital Management LLC now owns 674 shares of the social networking company’s stock worth $386,000 after purchasing an additional 85 shares during the last quarter. Visionary Horizons LLC purchased a new position in Meta Platforms during the third quarter worth $332,000. Phillips Wealth Planners LLC raised its holdings in shares of Meta Platforms by 22.1% in the third quarter. Phillips Wealth Planners LLC now owns 1,198 shares of the social networking company’s stock worth $691,000 after acquiring an additional 217 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Meta Platforms by 27.5% in the third quarter. Farther Finance Advisors LLC now owns 20,753 shares of the social networking company’s stock valued at $11,880,000 after acquiring an additional 4,478 shares in the last quarter. Finally, Dash Acquisitions Inc. boosted its stake in shares of Meta Platforms by 4.5% during the third quarter. Dash Acquisitions Inc. now owns 60,585 shares of the social networking company’s stock valued at $34,730,000 after acquiring an additional 2,629 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $572.43 on Wednesday. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.26 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $556.78 and its two-hundred day moving average is $513.67. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

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

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. Raymond James upped their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Scotiabank reduced their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Finally, Bank of America lifted their price objective on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,919 shares of company stock valued at $129,296,067 over the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Company 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.