Eagle Bay Advisors LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Eagle Bay Advisors LLC cut its position in Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073 shares of the social networking company’s stock after selling 22 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Meta Platforms were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. ERn Financial LLC raised its position in shares of Meta Platforms by 59.0% during the 1st quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock valued at $802,000 after buying an additional 613 shares in the last quarter. Shulman DeMeo Asset Management LLC raised its position in shares of Meta Platforms by 4.6% during the 1st quarter. Shulman DeMeo Asset Management LLC now owns 5,233 shares of the social networking company’s stock valued at $2,541,000 after buying an additional 229 shares in the last quarter. Hurlow Wealth Management Group Inc. purchased a new stake in shares of Meta Platforms during the 1st quarter valued at $243,000. Thrive Wealth Management LLC raised its position in shares of Meta Platforms by 6.6% during the 1st quarter. Thrive Wealth Management LLC now owns 2,829 shares of the social networking company’s stock valued at $1,374,000 after buying an additional 176 shares in the last quarter. Finally, Lincoln Capital Corp raised its position in shares of Meta Platforms by 9.5% during the 1st quarter. Lincoln Capital Corp now owns 1,205 shares of the social networking company’s stock valued at $585,000 after buying an additional 105 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,817 shares of company stock worth $132,547,715. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Bank of America lifted their target price on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Loop Capital lifted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Raymond James lifted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Rosenblatt Securities lifted their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $621.63.

Meta Platforms Trading Up 1.0 %

NASDAQ:META opened at $573.25 on Friday. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The company’s 50-day simple moving average is $551.05 and its 200 day simple moving average is $510.76. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 32.93, a PEG ratio of 1.45 and a beta of 1.22.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.