Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 47.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,164 shares of the social networking company’s stock after selling 18,888 shares during the period. Concentric Capital Strategies LP’s holdings in Meta Platforms were worth $12,115,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms during the 3rd quarter worth about $46,000. West Financial Advisors LLC purchased a new position in Meta Platforms during the 3rd quarter valued at about $49,000. Finally, NewSquare Capital LLC increased its stake in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on META shares. Tigress Financial lifted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Bank of America upped their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. UBS Group upped their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Loop Capital lifted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total value of $470,600.00. Following the transaction, the insider now owns 38,722 shares in the company, valued at approximately $20,135,440. The trade was a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,239 shares of company stock valued at $59,681,541 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.9 %

NASDAQ META opened at $574.32 on Monday. 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, Inc. has a one year low of $313.66 and a one year high of $602.95. The company’s 50 day moving average price is $575.21 and its 200 day moving average price is $527.76. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly 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 analysts’ expectations of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

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

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.