Cable Hill Partners LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

Cable Hill Partners LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,719 shares of the social networking company’s stock after selling 27 shares during the period. Cable Hill Partners LLC’s holdings in Meta Platforms were worth $984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of META. China Universal Asset Management Co. Ltd. raised its position 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 buying an additional 16,138 shares during the last quarter. Empowered Funds LLC grew its stake in Meta Platforms by 22.4% during the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after acquiring an additional 12,301 shares in the last quarter. Cypress Asset Management Inc. TX raised its holdings in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after acquiring an additional 3,224 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Meta Platforms by 3.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 11,273 shares of the social networking company’s stock worth $5,474,000 after purchasing an additional 337 shares in the last quarter. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Scotiabank cut their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Loop Capital raised their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets upped their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. This represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,200 shares of company stock worth $84,533,106 in the last ninety days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 4.0 %

Shares of NASDAQ META opened at $554.08 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company 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. 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 $520.60.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.