Fairscale Capital LLC Sells 74 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fairscale Capital LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,574 shares of the social networking company’s stock after selling 74 shares during the quarter. Meta Platforms accounts for about 1.3% of Fairscale Capital LLC’s investment portfolio, making the stock its 15th biggest position. Fairscale Capital LLC’s holdings in Meta Platforms were worth $1,473,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Lindenwold Advisors INC boosted its stake in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC grew its holdings in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC increased its position in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its stake in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. lifted its position in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.1 %

Shares of Meta Platforms stock opened at $565.11 on Tuesday. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22. The business has a fifty day simple moving average of $573.38 and a two-hundred day simple moving average of $525.35. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year 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.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,918,698.12. Following the transaction, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at $4,943,375.40. This trade represents a 37.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,218 shares of company stock worth $65,819,414. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. The Goldman Sachs Group upped their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus lifted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.71.

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.