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

Total Investment Management Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 46.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 782 shares of the social networking company’s stock after selling 686 shares during the quarter. Total Investment Management Inc.’s holdings in Meta Platforms were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 4.0 %

META opened at $554.08 on Friday. The stock has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a 50-day moving average of $568.11 and a two-hundred day moving average of $519.97.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 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 analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,200 shares of company stock valued at $84,533,106. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several recent research reports. Monness Crespi & Hardt increased their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Scotiabank dropped their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Roth Mkm raised their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, four have given 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.