Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 37.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,980 shares of the social networking company’s stock after selling 1,759 shares during the quarter. Great Diamond Partners LLC’s holdings in Meta Platforms were worth $1,706,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 251,993 shares of company stock worth $133,271,982 in the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $567.16 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $308.33 and a one year high of $602.95. The stock’s 50 day moving average price is $555.99 and its 200 day moving average price is $513.03. The firm has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 (DPR) is presently 9.42%.

Analyst Ratings Changes

META has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. JMP Securities raised their price target on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday. Evercore ISI upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Scotiabank cut their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Piper Sandler lifted their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday. Two 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 company. According to MarketBeat, Meta Platforms presently has a consensus 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.