MAI Capital Management Sells 9,392 Shares of Meta Platforms, Inc. (NASDAQ:META)

MAI Capital Management reduced its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190,683 shares of the social networking company's stock after selling 9,392 shares during the period. Meta Platforms comprises 1.0% of MAI Capital Management's holdings, making the stock its 19th largest position. MAI Capital Management's holdings in Meta Platforms were worth $109,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its position 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 worth $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at $46,000. West Financial Advisors LLC purchased a new stake in Meta Platforms during the third quarter worth about $49,000. Finally, NewSquare Capital LLC lifted its position in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock worth $52,000 after purchasing an additional 71 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 620 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares in the company, valued at $11,135,544. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,958 shares of company stock valued at $101,181,747. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of META stock opened at $565.52 on Thursday. The company has a market cap of $1.43 trillion, a P/E ratio of 26.64, 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 quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $571.30 and a two-hundred day moving average of $523.03.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analyst Weigh In

Several equities analysts have commented on META shares. Cantor Fitzgerald restated an "overweight" rating and issued a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $640.00 to $660.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Piper Sandler lifted their price objective 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price 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.