Telos Capital Management Inc. Sells 27 Shares of Meta Platforms, Inc. (NASDAQ:META)

Telos Capital Management Inc. reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,238 shares of the social networking company’s stock after selling 27 shares during the period. Telos Capital Management Inc.’s holdings in Meta Platforms were worth $6,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Prentice Wealth Management LLC raised its position in Meta Platforms by 4.1% during the 1st quarter. Prentice Wealth Management LLC now owns 1,798 shares of the social networking company’s stock worth $873,000 after purchasing an additional 70 shares during the last quarter. TB Alternative Assets Ltd. bought a new position in shares of Meta Platforms during the first quarter worth about $8,498,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Meta Platforms in the first quarter worth approximately $641,000. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in Meta Platforms by 1.9% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after acquiring an additional 23 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in Meta Platforms by 1.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 28,335 shares of the social networking company’s stock valued at $13,759,000 after purchasing an additional 310 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on META. Rosenblatt Securities upped their price objective on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Susquehanna upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Bank of America lifted their price objective on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, TD Securities lifted their target price on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $619.20.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on 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 directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the sale, the chief operating officer now owns 11,120 shares in the company, valued at $6,456,828. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,912 shares of company stock valued at $132,027,612. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 3.1 %

Shares of NASDAQ:META opened at $563.69 on Thursday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The company has a market capitalization of $1.43 trillion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The business has a fifty day moving average price of $548.79 and a two-hundred day moving average price of $509.61. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 payout ratio is currently 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.