True Vision MN LLC Has $442,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

True Vision MN LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 772 shares of the social networking company’s stock after selling 82 shares during the period. True Vision MN LLC’s holdings in Meta Platforms were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares during the period. LS Investment Advisors LLC grew its stake in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the period. Gradient Investments LLC increased its holdings 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 valued at $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Cutter & CO Brokerage Inc. raised its position in shares of Meta Platforms by 0.7% during the third 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 period. Finally, Stanley Laman Group Ltd. lifted its holdings in shares of Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ META opened at $569.20 on Friday. The company has a 50-day simple moving average of $574.75 and a two-hundred day simple moving average of $526.33. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.25 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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 business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent research reports. JMP Securities raised their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Morgan Stanley lifted their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Loop Capital increased their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler raised their target price on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Guggenheim increased their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the sale, the insider now directly owns 37,790 shares in the company, valued at $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,239 shares of company stock valued at $59,681,541 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms 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.