Meta Platforms, Inc. $META is Founders Capital Management LLC’s 3rd Largest Position

Founders Capital Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,670 shares of the social networking company’s stock after selling 915 shares during the period. Meta Platforms comprises about 10.6% of Founders Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Founders Capital Management LLC’s holdings in Meta Platforms were worth $68,055,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of META. CCM Investment Advisers LLC boosted its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. CCM Investment Advisers LLC now owns 37,916 shares of the social networking company’s stock valued at $27,845,000 after buying an additional 273 shares during the last quarter. Clarity Financial LLC raised its holdings in Meta Platforms by 4,306.2% in the third quarter. Clarity Financial LLC now owns 25,027 shares of the social networking company’s stock valued at $18,379,000 after acquiring an additional 24,459 shares in the last quarter. Falcon Wealth Planning boosted its stake in Meta Platforms by 5.0% during the 3rd quarter. Falcon Wealth Planning now owns 4,996 shares of the social networking company’s stock valued at $3,669,000 after acquiring an additional 239 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Meta Platforms by 11.4% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 33,296 shares of the social networking company’s stock worth $24,452,000 after acquiring an additional 3,404 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its position in shares of Meta Platforms by 5.9% in the 3rd quarter. Quotient Wealth Partners LLC now owns 9,275 shares of the social networking company’s stock worth $6,812,000 after purchasing an additional 513 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, CAO Aaron Anderson sold 726 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total transaction of $429,501.60. Following the completion of the transaction, the chief accounting officer owned 6,035 shares in the company, valued at approximately $3,570,306. The trade was a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares in the company, valued at $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 41,038 shares of company stock worth $25,675,535. 13.61% of the stock is owned by company insiders.

Analyst Ratings Changes

META has been the topic of several research analyst reports. Truist Financial reduced their price target on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a research report on Tuesday, October 14th. Roth Capital reiterated a “buy” rating on shares of Meta Platforms in a report on Thursday, October 30th. Zacks Research cut Meta Platforms from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, BNP Paribas Exane began coverage on shares of Meta Platforms in a report on Monday, November 24th. They issued an “outperform” rating and a $800.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $818.59.

View Our Latest Stock Analysis on Meta Platforms

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Performance

META stock opened at $661.50 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.38 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The stock’s fifty day moving average is $658.67 and its two-hundred day moving average is $707.27.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.03 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is currently 9.28%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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