HT Partners LLC Sells 36 Shares of Meta Platforms, Inc. (NASDAQ:META)

HT Partners LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,986 shares of the social networking company’s stock after selling 36 shares during the period. Meta Platforms accounts for approximately 0.4% of HT Partners LLC’s holdings, making the stock its 22nd biggest position. HT Partners LLC’s holdings in Meta Platforms were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC grew its stake in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% in 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 last quarter. Richardson Financial Services Inc. grew its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms during the first quarter valued at approximately $44,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $573.25 on Friday. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. 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 business has a 50 day simple moving average of $551.05 and a 200-day simple moving average of $510.72. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the company earned $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. Equities analysts forecast that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 yield of 0.35%. Meta Platforms’s payout ratio is 10.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Sanford C. Bernstein lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Stifel Nicolaus lifted their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, three have assigned 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 company currently has an average rating of “Moderate Buy” and an average price target of $621.63.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 250,817 shares of company stock valued at $132,547,715 in the last ninety days. 13.71% of the stock is owned by company insiders.

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.