Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,131 shares of the social networking company’s stock after selling 2,152 shares during the period. Meta Platforms makes up approximately 2.2% of Logan Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Logan Capital Management Inc.’s holdings in Meta Platforms were worth $52,739,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of META. Lindenwold Advisors INC raised its position in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC increased its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. lifted its position in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $618.00, for a total transaction of $559,290.00. Following the completion of the sale, the insider now directly owns 35,630 shares of the company’s stock, valued at $22,019,340. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,002 shares of company stock worth $126,740,653 in the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock traded down $0.93 during trading hours on Friday, reaching $629.86. 635,021 shares of the company traded hands, compared to its average volume of 14,708,805. The firm has a 50-day moving average price of $583.48 and a 200 day moving average price of $536.44. The company has a market cap of $1.59 trillion, a P/E ratio of 29.71, a P/E/G ratio of 1.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 12-month low of $328.64 and a 12-month high of $638.40.

Meta Platforms (NASDAQ:META) last issued 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 net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

A number of research firms recently issued reports on META. Guggenheim upped their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Tigress Financial upped their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Stifel Nicolaus increased their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Finally, Piper Sandler increased their target price on Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $635.20.

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.