Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Cut by In Depth Partners LLC

In Depth Partners LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.3% during the third quarter, Holdings Channel.com reports. The fund owned 19,045 shares of the social networking company’s stock after selling 2,910 shares during the quarter. Meta Platforms comprises 11.3% of In Depth Partners LLC’s portfolio, making the stock its 3rd biggest holding. In Depth Partners LLC’s holdings in Meta Platforms were worth $10,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of META. Cullinan Associates Inc. boosted its holdings in Meta Platforms by 47.2% during the 2nd quarter. Cullinan Associates Inc. now owns 26,963 shares of the social networking company’s stock worth $13,595,000 after acquiring an additional 8,647 shares during the last quarter. Albion Financial Group UT boosted its holdings in Meta Platforms by 9.3% during the 2nd quarter. Albion Financial Group UT now owns 1,122 shares of the social networking company’s stock worth $566,000 after acquiring an additional 95 shares during the last quarter. NBC Securities Inc. boosted its holdings in Meta Platforms by 7.6% during the 2nd quarter. NBC Securities Inc. now owns 7,432 shares of the social networking company’s stock worth $3,747,000 after acquiring an additional 525 shares during the last quarter. Greenfield Savings Bank boosted its holdings in Meta Platforms by 1.1% during the 2nd quarter. Greenfield Savings Bank now owns 5,897 shares of the social networking company’s stock worth $2,973,000 after acquiring an additional 65 shares during the last quarter. Finally, Northside Capital Management LLC boosted its holdings in Meta Platforms by 4.7% during the 2nd quarter. Northside Capital Management LLC now owns 420,646 shares of the social networking company’s stock worth $212,098,000 after acquiring an additional 18,852 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Roth Mkm lifted their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Guggenheim lifted their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. The Goldman Sachs Group lifted their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Robert W. Baird lifted their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.71.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $522.00, for a total value of $215,586.00. Following the completion of the sale, the chief operating officer now directly owns 13,598 shares of the company’s stock, valued at approximately $7,098,156. This represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,334 shares of company stock valued at $59,210,941. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $1.50 during midday trading on Tuesday, hitting $594.33. 1,022,314 shares of the company’s stock were exchanged, compared to its average volume of 14,804,930. 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. The company has a market cap of $1.50 trillion, a price-to-earnings ratio of 27.92, a PEG ratio of 1.27 and a beta of 1.20. The business’s fifty day moving average price is $575.21 and its two-hundred day moving average price is $528.08.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Meta Platforms 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.