Meta Platforms, Inc. (NASDAQ:META) Stake Trimmed by Garrison Point Advisors LLC

Garrison Point Advisors LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,964 shares of the social networking company’s stock after selling 20 shares during the quarter. Meta Platforms makes up approximately 1.8% of Garrison Point Advisors LLC’s portfolio, making the stock its 12th largest position. Garrison Point Advisors LLC’s holdings in Meta Platforms were worth $2,842,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Freedom Day Solutions LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at $226,000. Heritage Oak Wealth Advisors LLC lifted its stake in Meta Platforms by 318.3% in the 3rd quarter. Heritage Oak Wealth Advisors LLC now owns 3,836 shares of the social networking company’s stock worth $2,196,000 after acquiring an additional 2,919 shares in the last quarter. Silver Oak Securities Incorporated boosted its position in Meta Platforms by 11.6% during the 3rd quarter. Silver Oak Securities Incorporated now owns 6,279 shares of the social networking company’s stock worth $3,505,000 after acquiring an additional 651 shares during the period. Moody Lynn & Lieberson LLC grew its stake in Meta Platforms by 11.9% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 5,014 shares of the social networking company’s stock valued at $2,870,000 after acquiring an additional 532 shares in the last quarter. Finally, West Michigan Advisors LLC increased its holdings in shares of Meta Platforms by 4.2% in the 3rd quarter. West Michigan Advisors LLC now owns 3,033 shares of the social networking company’s stock valued at $1,736,000 after purchasing an additional 121 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $573.25 on Monday. The firm has a market capitalization of $1.45 trillion, a PE ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The business’s 50 day moving average is $551.05 and its 200-day moving average is $510.65.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the company posted $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 10.21%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on META. Wells Fargo & Company raised their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. DA Davidson began coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. BMO Capital Markets increased their price objective on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday, October 9th. KeyCorp boosted their target price on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, TD Securities raised their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $621.63.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 250,817 shares of company stock worth $132,547,715. 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.