Managed Asset Portfolios LLC Sells 202 Shares of Meta Platforms, Inc. (NASDAQ:META)

Managed Asset Portfolios LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 48,221 shares of the social networking company’s stock after selling 202 shares during the quarter. Meta Platforms comprises 3.9% of Managed Asset Portfolios LLC’s portfolio, making the stock its 7th largest holding. Managed Asset Portfolios LLC’s holdings in Meta Platforms were worth $27,604,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in META. China Universal Asset Management Co. Ltd. boosted its stake in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares during the period. Cypress Asset Management Inc. TX increased its position in shares of Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after acquiring an additional 3,224 shares during the period. Redwood Investment Management LLC acquired a new stake in shares of Meta Platforms in the first quarter valued at $1,829,000. Creekmur Asset Management LLC boosted 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 purchasing an additional 383 shares during the period. Finally, Clear Point Advisors Inc. grew its stake in Meta Platforms by 7.8% during the 1st quarter. Clear Point Advisors Inc. now owns 1,036 shares of the social networking company’s stock worth $503,000 after purchasing an additional 75 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on META. DA Davidson began coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Barclays boosted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Stock Performance

NASDAQ META opened at $565.11 on Tuesday. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.23 and a beta of 1.22. The business’s 50 day moving average is $573.38 and its two-hundred day moving average is $525.35. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

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

Meta Platforms Dividend Announcement

The business 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 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 620 shares of Meta Platforms stock in a transaction dated 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 transaction, the chief operating officer now owns 19,992 shares in the company, valued at approximately $11,135,544. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,218 shares of company stock valued at $65,819,414. Corporate 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.