Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,279 shares of the social networking company’s stock after selling 1,249 shares during the quarter. Marco Investment Management LLC’s holdings in Meta Platforms were worth $5,884,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Hartford Funds Management Co LLC increased its stake in shares of Meta Platforms by 4.3% during the third quarter. Hartford Funds Management Co LLC now owns 2,419 shares of the social networking company’s stock worth $1,384,000 after buying an additional 99 shares during the period. Summit Trail Advisors LLC grew its holdings in Meta Platforms by 11.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 21,999 shares of the social networking company’s stock worth $12,593,000 after acquiring an additional 2,316 shares in the last quarter. Capital Investment Counsel LLC increased its position in shares of Meta Platforms by 17.2% in the 3rd quarter. Capital Investment Counsel LLC now owns 559 shares of the social networking company’s stock valued at $320,000 after purchasing an additional 82 shares during the last quarter. Draper Asset Management LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $4,665,000. Finally, SevenBridge Financial Group LLC lifted its position in shares of Meta Platforms by 3.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 11,163 shares of the social networking company’s stock worth $6,510,000 after purchasing an additional 327 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. Wells Fargo & Company cut their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Piper Sandler raised their target price on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Truist Financial upped their price target on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Oppenheimer raised their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Stock Performance

Shares of META opened at $565.11 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a 50-day simple moving average of $573.38 and a 200-day simple moving average of $525.35. The company has a market capitalization of $1.43 trillion, a PE ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 620 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the sale, the chief operating officer now owns 19,992 shares in the company, valued at $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,218 shares of company stock valued at $65,819,414. Insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.