Meta Platforms, Inc. $META Position Reduced by Investment House LLC

Investment House LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,623 shares of the social networking company’s stock after selling 7,065 shares during the period. Meta Platforms makes up 5.6% of Investment House LLC’s portfolio, making the stock its 2nd largest position. Investment House LLC’s holdings in Meta Platforms were worth $117,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldstone Financial Group LLC boosted its position in shares of Meta Platforms by 44.4% during the third quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock valued at $2,756,000 after buying an additional 1,153 shares during the last quarter. Diversify Advisory Services LLC lifted its stake in Meta Platforms by 10.4% during the 2nd quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock valued at $43,790,000 after acquiring an additional 5,224 shares during the period. CW Advisors LLC grew its stake in shares of Meta Platforms by 27.8% in the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after acquiring an additional 38,432 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Meta Platforms by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after acquiring an additional 20,912 shares during the period. Finally, Stephens Inc. AR raised its holdings in shares of Meta Platforms by 5.6% during the second quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock valued at $62,507,000 after purchasing an additional 4,473 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 1.4%

Shares of META stock opened at $706.41 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The company’s fifty day moving average price is $653.93 and its 200-day moving average price is $696.00. The company has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.36 and a beta of 1.28.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The business had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.Meta Platforms’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.02 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 8.94%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $810.00 price objective on shares of Meta Platforms in a report on Thursday, January 29th. Pivotal Research reduced their price objective on Meta Platforms from $930.00 to $910.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Wedbush raised their target price on Meta Platforms from $880.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Barclays reissued an “overweight” rating and issued a $800.00 price objective (up previously from $770.00) on shares of Meta Platforms in a report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $848.50.

Read Our Latest Report on META

Insiders Place Their Bets

In other Meta Platforms news, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $609.35, for a total transaction of $365,610.00. Following the completion of the sale, the director directly owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the sale, the chief technology officer owned 2,415 shares in the company, valued at approximately $1,432,843.65. The trade was a 82.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,077 shares of company stock worth $23,955,958 over the last ninety days. 13.61% of the stock is owned by company insiders.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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