Neville Rodie & Shaw Inc. Reduces Stake in Meta Platforms, Inc. $META

Neville Rodie & Shaw Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,088 shares of the social networking company’s stock after selling 1,395 shares during the period. Meta Platforms comprises about 1.4% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 20th biggest holding. Neville Rodie & Shaw Inc.’s holdings in Meta Platforms were worth $19,158,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of META. Bare Financial Services Inc bought a new position in shares of Meta Platforms in the 2nd quarter worth approximately $30,000. Evergreen Private Wealth LLC grew its position in Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after buying an additional 38 shares during the period. Briaud Financial Planning Inc purchased a new stake in Meta Platforms during the second quarter valued at approximately $42,000. Knuff & Co LLC bought a new position in Meta Platforms in the second quarter worth approximately $44,000. Finally, WFA Asset Management Corp raised its position in Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after acquiring an additional 20 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $657.15 on Wednesday. The stock has a 50-day moving average price of $663.44 and a 200 day moving average price of $707.81. The stock has a market capitalization of $1.66 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.36 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same period in the prior year, the company posted $6.03 EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 9.28%.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 2,610 shares of Meta Platforms stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. The trade was a 21.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the sale, the director owned 7,347 shares in the company, valued at $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,458 shares of company stock valued at $25,436,200 in the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. BNP Paribas assumed coverage on shares of Meta Platforms in a research report on Monday, November 24th. They set an “outperform” rating and a $800.00 price objective for the company. Jefferies Financial Group cut their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Erste Group Bank cut Meta Platforms from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. DA Davidson set a $825.00 price objective on Meta Platforms in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a research note on Tuesday, October 14th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $819.46.

About Meta Platforms

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.