Central Asset Investments & Management Holdings HK Ltd Sells 1,903 Shares of Meta Platforms, Inc. (NASDAQ:META)

Central Asset Investments & Management Holdings HK Ltd trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 57.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,391 shares of the social networking company’s stock after selling 1,903 shares during the quarter. Meta Platforms accounts for 0.8% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 19th largest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Meta Platforms were worth $796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of META. LS Investment Advisors LLC increased its holdings in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares in the last quarter. Gradient Investments LLC raised its position in shares of Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its stake in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after buying an additional 65 shares during the period. Stanley Laman Group Ltd. raised its position in shares of Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after acquiring an additional 352 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in Meta Platforms by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after acquiring an additional 5,594 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,593 shares of company stock valued at $75,253,970. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $554.40 on Tuesday. The firm has a market cap of $1.40 trillion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.23 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 quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $569.10 and its 200-day moving average is $521.96.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

META has been the subject of a number of research reports. Jefferies Financial Group increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. KeyCorp raised their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Barclays upped their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.