Fairscale Capital LLC Sells 74 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fairscale Capital LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,574 shares of the social networking company’s stock after selling 74 shares during the quarter. Meta Platforms accounts for about 1.3% of Fairscale Capital LLC’s portfolio, making the stock its 15th largest position. Fairscale Capital LLC’s holdings in Meta Platforms were worth $1,473,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of META. China Universal Asset Management Co. Ltd. raised its position in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after purchasing an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX increased its position in Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after purchasing an additional 3,224 shares during the period. Redwood Investment Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter worth approximately $1,829,000. Creekmur Asset Management LLC lifted its holdings in Meta Platforms by 59.6% in the first quarter. Creekmur Asset Management LLC now owns 1,026 shares of the social networking company’s stock valued at $498,000 after buying an additional 383 shares during the period. Finally, Clear Point Advisors Inc. lifted its stake in shares of Meta Platforms by 7.8% in the 1st quarter. Clear Point Advisors Inc. now owns 1,036 shares of the social networking company’s stock valued at $503,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $565.11 on Tuesday. The firm has a market cap of $1.43 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22. The firm’s fifty day moving average is $573.38 and its 200 day moving average is $525.35. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total transaction of $4,117,971.00. Following the transaction, the chief executive officer now owns 531,884 shares in the company, valued at $274,643,622.24. The trade was a 1.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at $19,197,043.71. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,218 shares of company stock valued at $65,819,414 over the last three months. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

META has been the topic of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. Sanford C. Bernstein raised their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Susquehanna raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” 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 issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $634.71.

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.