Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cryder Capital Partners LLP

Cryder Capital Partners LLP cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 458,375 shares of the social networking company’s stock after selling 23,136 shares during the period. Meta Platforms makes up about 15.1% of Cryder Capital Partners LLP’s portfolio, making the stock its largest holding. Cryder Capital Partners LLP’s holdings in Meta Platforms were worth $262,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its holdings 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 valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the third quarter valued at approximately $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the third quarter worth approximately $49,000. Finally, NewSquare Capital LLC increased its position in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $554.08 on Monday. The business’s 50-day moving average is $568.11 and its two-hundred day moving average is $521.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is currently 9.42%.

Analyst Ratings Changes

A number of research analysts have weighed in on META shares. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup raised their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Roth Mkm increased their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Guggenheim boosted their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the sale, the chief operating officer now directly owns 10,294 shares in the company, valued at $5,842,668.52. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,498 shares of company stock worth $75,732,154. 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.