SRN Advisors LLC Has $1.05 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

SRN Advisors LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 66.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,835 shares of the social networking company's stock after selling 3,712 shares during the period. SRN Advisors LLC's holdings in Meta Platforms were worth $1,050,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Central Valley Advisors LLC raised its stake in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC increased its holdings in shares of Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 0.7% in the third 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 in the last quarter. Kozak & Associates Inc. increased its holdings in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock valued at $1,099,000 after purchasing an additional 18 shares in the last quarter. 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 in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.2 %

META traded down $1.48 during trading on Wednesday, hitting $591.80. The company had a trading volume of 26,531,681 shares, compared to its average volume of 15,101,563. The firm's 50-day moving average price is $553.36 and its 200 day moving average price is $511.61. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a one year low of $296.86 and a one year high of $602.95. The company has a market capitalization of $1.50 trillion, a PE ratio of 33.99, a PEG ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS 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 analysts' expectations of $38.26 billion. During the same period in the previous year, the firm posted $3.23 EPS. The company's revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts expect that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms's dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Citigroup raised their price target on shares of Meta Platforms from $580.00 to $645.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Raymond James raised their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a "strong-buy" rating in a report on Thursday, October 10th. Morgan Stanley raised their price target 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. Finally, The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $621.63.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company's stock, valued at $6,315,852.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Andrew Bosworth sold 5,057 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 $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company's stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the company's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 251,230 shares of company stock valued at $132,784,843 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

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.