Tidemark LLC Has $339,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Tidemark LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% during the third quarter, Holdings Channel reports. The firm owned 592 shares of the social networking company’s stock after selling 26 shares during the period. Tidemark LLC’s holdings in Meta Platforms were worth $339,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. LS Investment Advisors LLC grew its position in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Cutter & CO Brokerage Inc. raised its position in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the last quarter. Stanley Laman Group Ltd. lifted its stake in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after acquiring an additional 352 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Meta Platforms by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after purchasing an additional 5,594 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 0.8 %

Shares of Meta Platforms stock opened at $565.52 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market cap of $1.43 trillion, a PE ratio of 26.64, a PEG ratio of 1.23 and a beta of 1.22. The company has a 50 day simple moving average of $571.30 and a two-hundred day simple moving average of $523.03.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on META shares. Morgan Stanley increased their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. UBS Group lifted their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler boosted their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, KeyCorp raised their price target on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two investment 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. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 620 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the transaction, the chief operating officer now directly owns 19,992 shares in the company, valued at approximately $11,135,544. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,958 shares of company stock worth $101,181,747 over the last quarter. 13.71% of the stock is owned by corporate insiders.

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.