Intellectus Partners LLC Has $10.35 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Intellectus Partners LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,088 shares of the social networking company's stock after selling 3,870 shares during the period. Meta Platforms comprises 2.6% of Intellectus Partners LLC's holdings, making the stock its 4th largest position. Intellectus Partners LLC's holdings in Meta Platforms were worth $10,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new position in Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock valued at $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter worth approximately $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth $49,000. Finally, NewSquare Capital LLC raised its position in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock valued at $52,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $531.46, for a total value of $8,876,444.92. Following the sale, the chief executive officer now directly owns 11,384 shares of the company's stock, valued at $6,050,140.64. This represents a 59.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,498 shares of company stock valued at $75,732,154. Company insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. Barclays upped their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. UBS Group raised their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Pivotal Research raised their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Two investment 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $634.10.

Meta Platforms Stock Up 0.1 %

META stock traded up $0.32 during trading on Monday, hitting $554.40. 14,242,830 shares of the company's stock were exchanged, compared to its average volume of 15,060,916. The business has a 50-day moving average price of $568.11 and a two-hundred day moving average price of $521.17. The stock has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week 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.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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 return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is 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.