Central Asset Investments & Management Holdings HK Ltd Trims Stake in Meta Platforms, Inc. (NASDAQ:META)

Central Asset Investments & Management Holdings HK Ltd cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 57.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,391 shares of the social networking company's stock after selling 1,903 shares during the period. Meta Platforms accounts for approximately 0.8% of Central Asset Investments & Management Holdings HK Ltd's portfolio, making the stock its 19th biggest holding. Central Asset Investments & Management Holdings HK Ltd's holdings in Meta Platforms were worth $796,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company's stock valued at $23,886,000 after acquiring an additional 16,138 shares during the last quarter. Empowered Funds LLC grew its holdings in Meta Platforms by 22.4% during the 1st quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company's stock worth $32,629,000 after acquiring an additional 12,301 shares during the period. Cypress Asset Management Inc. TX raised its position in shares of Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company's stock valued at $1,862,000 after acquiring an additional 3,224 shares during the last quarter. Northern Capital Management Inc. lifted its stake in shares of Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company's stock valued at $314,000 after purchasing an additional 21 shares during the period. Finally, Catalytic Wealth RIA LLC boosted its position in shares of Meta Platforms by 24.3% in the 1st quarter. Catalytic Wealth RIA LLC now owns 7,131 shares of the social networking company's stock worth $3,463,000 after purchasing an additional 1,396 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the transaction, the chief operating officer now owns 10,294 shares in the company, valued at $5,842,668.52. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25. Following the completion of the transaction, the insider now owns 39,627 shares of the company's stock, valued at $20,568,394.35. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,593 shares of company stock valued at $75,253,970 in the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 0.5 %

META traded up $2.50 during midday trading on Tuesday, hitting $556.90. 4,654,286 shares of the company were exchanged, compared to its average volume of 15,015,419. The firm has a market capitalization of $1.41 trillion, a P/E ratio of 26.09, a P/E/G ratio of 1.23 and a beta of 1.22. The firm's 50 day moving average price is $569.10 and its 200-day moving average price is $521.96. 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, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

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

Meta Platforms Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms's dividend payout ratio is presently 9.42%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Hsbc Global Res raised shares of Meta Platforms to a "hold" rating in a research note on Thursday, October 24th. Piper Sandler raised their price target on Meta Platforms from $575.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. KeyCorp raised their target price on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Finally, Bank of America lifted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $634.10.

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.