Meta Platforms, Inc. (NASDAQ:META) is HS Management Partners LLC's 6th Largest Position

HS Management Partners LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 30.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 148,490 shares of the social networking company's stock after selling 65,860 shares during the period. Meta Platforms makes up about 5.5% of HS Management Partners LLC's investment portfolio, making the stock its 6th biggest holding. HS Management Partners LLC's holdings in Meta Platforms were worth $85,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of META. Central Valley Advisors LLC increased its stake in shares of Meta Platforms by 0.3% during 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 raised its stake in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC lifted 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 valued at $1,595,000 after purchasing an additional 18 shares during the last quarter. Kozak & Associates Inc. boosted its position in Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock worth $1,099,000 after purchasing an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Meta Platforms by 0.5% in the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company's stock valued at $2,038,000 after purchasing an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock traded up $19.62 during trading hours on Thursday, hitting $591.67. 12,252,371 shares of the company were exchanged, compared to its average volume of 15,123,219. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 1.24 and a beta of 1.22. The firm has a fifty day simple moving average of $558.95 and a 200 day simple moving average of $514.71. 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, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 35.55% and a return on equity of 35.60%. Research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms's payout ratio is currently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares of the company's stock, valued at $19,197,043.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $513.09, for a total value of $8,569,629.18. Following the transaction, the chief executive officer now owns 98,654 shares in the company, valued at $50,618,380.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,919 shares of company stock worth $129,296,067 in the last quarter. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. UBS Group upped their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Meta Platforms from $652.00 to $641.00 and set an "overweight" rating for the company in a report on Friday, November 1st. DA Davidson initiated coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a "buy" rating and a $600.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has a consensus 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.