Fortem Financial Group LLC Sells 333 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fortem Financial Group LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,712 shares of the social networking company’s stock after selling 333 shares during the quarter. Meta Platforms makes up 1.6% of Fortem Financial Group LLC’s portfolio, making the stock its 14th biggest position. Fortem Financial Group LLC’s holdings in Meta Platforms were worth $3,842,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC increased its position in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after buying an additional 208,677 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on META. Guggenheim raised their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Barclays upped their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Susquehanna upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Two 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $635.20.

Meta Platforms Trading Up 0.9 %

META stock opened at $619.32 on Wednesday. Meta Platforms, Inc. has a 1-year low of $319.99 and a 1-year high of $629.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.17, a PEG ratio of 1.37 and a beta of 1.20. The business has a 50 day simple moving average of $581.32 and a two-hundred day simple moving average of $535.09.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company 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 of this dividend is Monday, December 16th. Meta Platforms’s payout ratio is presently 9.42%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 22,946 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $621.84, for a total value of $14,268,740.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $520.57, for a total value of $214,995.41. Following the completion of the sale, the chief operating officer now owns 13,185 shares of the company’s stock, valued at approximately $6,863,715.45. This represents a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,201 shares of company stock valued at $95,420,559. Insiders own 13.71% of the company’s stock.

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.