Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Lederer & Associates Investment Counsel CA

Lederer & Associates Investment Counsel CA decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,900 shares of the social networking company’s stock after selling 99 shares during the period. Meta Platforms comprises 2.8% of Lederer & Associates Investment Counsel CA’s portfolio, making the stock its 6th largest holding. Lederer & Associates Investment Counsel CA’s holdings in Meta Platforms were worth $3,950,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in META. Baker Tilly Wealth Management LLC raised its holdings in shares of Meta Platforms by 20.4% during the third quarter. Baker Tilly Wealth Management LLC now owns 7,310 shares of the social networking company’s stock worth $4,184,000 after acquiring an additional 1,238 shares in the last quarter. FCG Investment Co lifted its holdings in shares of Meta Platforms by 15.1% during the 3rd quarter. FCG Investment Co now owns 7,606 shares of the social networking company’s stock valued at $4,354,000 after buying an additional 995 shares during the last quarter. First American Bank grew its stake in shares of Meta Platforms by 0.9% in the 3rd quarter. First American Bank now owns 40,244 shares of the social networking company’s stock valued at $23,037,000 after buying an additional 365 shares in the last quarter. Tributary Capital Management LLC increased its holdings in Meta Platforms by 13.7% in the third quarter. Tributary Capital Management LLC now owns 2,775 shares of the social networking company’s stock worth $1,589,000 after buying an additional 335 shares during the last quarter. Finally, L. Roy Papp & Associates LLP increased its holdings in Meta Platforms by 15.8% in the third quarter. L. Roy Papp & Associates LLP now owns 2,070 shares of the social networking company’s stock worth $1,185,000 after buying an additional 283 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock opened at $591.80 on Thursday. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 33.99, a P/E/G ratio of 1.42 and a beta of 1.22. The stock has a fifty day moving average price of $554.49 and a two-hundred day moving average price of $512.18. Meta Platforms, Inc. has a 52-week low of $296.86 and a 52-week 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.

Meta Platforms (NASDAQ:META) last announced its 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 net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company posted $3.23 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated 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 directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents 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 sold 250,818 shares of company stock worth $132,569,993. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several recent research reports. JMP Securities boosted their target price on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 26th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. The Goldman Sachs Group increased their price objective on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Scotiabank started coverage on Meta Platforms in a report on Friday, October 11th. They issued a “sector perform” rating and a $585.00 target price for the company. Finally, Piper Sandler increased their price target on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $621.63.

About Meta Platforms

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.