Crew Capital Management Ltd. Sells 67 Shares of Meta Platforms, Inc. (NASDAQ:META)

Crew Capital Management Ltd. trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 962 shares of the social networking company’s stock after selling 67 shares during the quarter. Crew Capital Management Ltd.’s holdings in Meta Platforms were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Keystone Wealth Services LLC lifted its holdings in Meta Platforms by 25.3% in the 1st quarter. Keystone Wealth Services LLC now owns 1,624 shares of the social networking company’s stock worth $789,000 after buying an additional 328 shares during the period. Central Valley Advisors LLC lifted its holdings in Meta Platforms by 1.1% in the 1st quarter. Central Valley Advisors LLC now owns 5,817 shares of the social networking company’s stock worth $2,825,000 after buying an additional 64 shares during the period. Annex Advisory Services LLC lifted its holdings in Meta Platforms by 345.5% in the 1st quarter. Annex Advisory Services LLC now owns 51,430 shares of the social networking company’s stock worth $24,973,000 after buying an additional 39,885 shares during the period. Gilman Hill Asset Management LLC purchased a new stake in Meta Platforms in the 1st quarter worth approximately $4,539,000. Finally, Factory Mutual Insurance Co. lifted its holdings in Meta Platforms by 2.2% in the 1st quarter. Factory Mutual Insurance Co. now owns 330,590 shares of the social networking company’s stock worth $160,528,000 after buying an additional 7,200 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of META opened at $582.01 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 33.43, a PEG ratio of 1.45 and a beta of 1.22. The business has a fifty day moving average of $547.72 and a 200 day moving average of $509.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Wolfe Research began coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Roth Mkm raised their target price on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $619.20.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the transaction, the chief operating officer now directly owns 5,559 shares in the company, valued at $2,573,817. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,324 shares of company stock valued at $132,218,368. Company 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.