Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Sara Bay Financial

Sara Bay Financial lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,963 shares of the social networking company's stock after selling 1,700 shares during the period. Meta Platforms makes up approximately 6.6% of Sara Bay Financial's holdings, making the stock its 4th biggest position. Sara Bay Financial's holdings in Meta Platforms were worth $16,007,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in META. Baird Financial Group Inc. boosted its holdings in shares of Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company's stock worth $295,901,000 after acquiring an additional 163,067 shares in the last quarter. Gradient Investments LLC increased its holdings in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company's stock worth $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company's stock worth $2,962,767,000 after buying an additional 748,076 shares during the last quarter. ERn Financial LLC lifted its stake in Meta Platforms by 59.0% in the 1st quarter. ERn Financial LLC now owns 1,652 shares of the social networking company's stock valued at $802,000 after purchasing an additional 613 shares during the last quarter. Finally, Stanley Laman Group Ltd. lifted its position in Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company's stock worth $846,000 after acquiring an additional 352 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

META has been the topic of several recent research reports. Piper Sandler raised their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Pivotal Research assumed coverage on shares of Meta Platforms in a research note on Tuesday, October 1st. They issued a "buy" rating and a $780.00 price objective on the stock. Oppenheimer upped their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Wedbush reiterated an "outperform" rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Finally, TD Cowen raised their target price on Meta Platforms from $530.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $601.08.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total value of $8,916,696.74. Following the completion of the sale, the chief executive officer now owns 151,918 shares of the company's stock, valued at approximately $81,104,462.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Susan J. Li sold 8,950 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company's stock, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the company's stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the completion of the sale, the chief executive officer now directly owns 151,918 shares in the company, valued at approximately $81,104,462.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 283,526 shares of company stock valued at $149,140,674 in the last quarter. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Down 1.9 %

Meta Platforms stock traded down $11.16 during trading on Monday, reaching $584.78. 11,978,209 shares of the company's stock were exchanged, compared to its average volume of 15,505,369. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company's 50-day moving average is $527.07 and its two-hundred day moving average is $502.63. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 33.62, a PEG ratio of 1.39 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the business earned $3.23 earnings per share. Meta Platforms's quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms's payout ratio is 11.49%.

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.

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