Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Trimmed by Estate Counselors LLC

Estate Counselors LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the 3rd quarter, Holdings Channel reports. The fund owned 3,195 shares of the social networking company’s stock after selling 25 shares during the period. Estate Counselors LLC’s holdings in Meta Platforms were worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms in the second quarter worth about $595,152,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after buying an additional 661,923 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Meta Platforms in the second quarter worth about $285,690,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on META shares. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Barclays boosted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Raymond James restated a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a research note on Monday. Two equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Stock Performance

META stock opened at $565.11 on Tuesday. The business’s fifty day moving average is $573.38 and its 200-day moving average is $525.35. 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 has a market cap of $1.43 trillion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.62 EPS 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 14,746 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.53, for a total value of $8,162,353.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,218 shares of company stock worth $65,819,414. 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.