Meta Platforms, Inc. (NASDAQ:META) Stock Position Boosted by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,694 shares of the social networking company’s stock after purchasing an additional 70 shares during the period. Meta Platforms makes up 0.8% of Carl P. Sherr & Co. LLC’s portfolio, making the stock its 29th biggest holding. Carl P. Sherr & Co. LLC’s holdings in Meta Platforms were worth $1,542,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Cypress Asset Management Inc. TX boosted its holdings in shares of Meta Platforms by 541.8% in the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after buying an additional 3,224 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 0.3% in the first quarter. EverSource Wealth Advisors LLC now owns 16,111 shares of the social networking company’s stock worth $7,823,000 after buying an additional 56 shares during the period. OMC Financial Services LTD acquired a new position in shares of Meta Platforms in the first quarter worth about $4,355,000. American Trust boosted its holdings in shares of Meta Platforms by 1.6% in the first quarter. American Trust now owns 3,179 shares of the social networking company’s stock worth $1,544,000 after buying an additional 50 shares during the period. Finally, Jackson Wealth Management LLC purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $599,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.8 %

NASDAQ META opened at $569.20 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a 50 day moving average of $574.75 and a 200-day moving average of $526.33. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities research analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared 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. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. TD Cowen upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JMP Securities upped their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Raymond James reiterated a “strong-buy” rating and issued a $675.00 target price on shares of Meta Platforms in a report on Monday. Finally, Wells Fargo & Company decreased their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $634.71.

Insider Transactions at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the completion of the sale, the insider now directly owns 38,722 shares in the company, valued at approximately $20,135,440. This represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,239 shares of company stock worth $59,681,541. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.