Meta Platforms, Inc. (NASDAQ:META) Stock Position Reduced by Carrera Capital Advisors

Carrera Capital Advisors cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 919 shares of the social networking company’s stock after selling 162 shares during the period. Carrera Capital Advisors’ holdings in Meta Platforms were worth $526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Valley Advisors LLC grew its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC grew its holdings in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC grew its holdings in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. grew its holdings in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after acquiring an additional 18 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

NASDAQ:META opened at $554.08 on Friday. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $568.11 and a 200 day simple moving average of $519.97. The stock has a market capitalization of $1.40 trillion, a PE ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22.

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

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the transaction, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction 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 transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,200 shares of company stock valued at $84,533,106. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on META shares. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Piper Sandler upped their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. Scotiabank cut their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Two equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

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.