Transcendent Capital Group LLC Has $795,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Transcendent Capital Group LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,389 shares of the social networking company’s stock after selling 265 shares during the quarter. Transcendent Capital Group LLC’s holdings in Meta Platforms were worth $795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Delos Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Meta Platforms during the 1st quarter worth about $47,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on META. Susquehanna raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Monness Crespi & Hardt upped their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Evercore ISI raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at $17,360,833.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the sale, the chief executive officer now owns 55,019 shares in the company, valued at approximately $29,110,002.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,807 shares of company stock worth $93,851,617. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $580.00 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The firm has a market cap of $1.46 trillion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The firm’s fifty day moving average is $564.48 and its 200-day moving average is $518.29.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

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.