Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Arjuna Capital

Arjuna Capital reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,908 shares of the social networking company’s stock after selling 56 shares during the period. Meta Platforms makes up 1.9% of Arjuna Capital’s holdings, making the stock its 11th largest position. Arjuna Capital’s holdings in Meta Platforms were worth $7,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% in 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 in the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the third quarter valued at $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $49,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Morgan Stanley raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. DA Davidson assumed coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,200 shares of company stock worth $84,533,106. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 4.0 %

Shares of META opened at $554.08 on Friday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22. The firm has a 50-day moving average price of $568.11 and a 200 day moving average price of $520.60. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 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 forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.36%. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.