Forte Capital LLC ADV Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Forte Capital LLC ADV cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,230 shares of the social networking company’s stock after selling 522 shares during the quarter. Forte Capital LLC ADV’s holdings in Meta Platforms were worth $1,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% in the second 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 period. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the third quarter valued at about $46,000. Finally, J.Safra Asset Management Corp purchased a new position in Meta Platforms during the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.4 %

Shares of META opened at $589.34 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a market cap of $1.49 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.27 and a beta of 1.22. The company’s fifty day simple moving average is $561.78 and its 200-day simple moving average is $516.13.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares in the company, valued at approximately $17,360,833.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total value of $8,827,174.02. Following the transaction, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 228,118 shares of company stock valued at $121,237,935. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Susquehanna raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Barclays upped their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Morgan Stanley increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two equities research 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

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.