Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 16.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,779 shares of the social networking company’s stock after selling 925 shares during the quarter. Meta Platforms accounts for about 2.1% of Cravens & Co Advisors LLC’s holdings, making the stock its 11th largest holding. Cravens & Co Advisors LLC’s holdings in Meta Platforms were worth $2,736,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at about $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter worth about $49,000. Finally, NewSquare Capital LLC raised its position in shares of Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This represents a 14.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 4,909 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $519.17, for a total transaction of $2,548,605.53. Following the sale, the chief executive officer now owns 519,000 shares of the company’s stock, valued at approximately $269,449,230. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,561 shares of company stock valued at $62,445,464 in the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $569.20 on Thursday. 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 52 week low of $313.66 and a 52 week high of $602.95. The firm’s 50 day moving average is $574.12 and its two-hundred day moving average is $526.03. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Analysts Set New Price Targets

Several research firms have commented on META. Sanford C. Bernstein boosted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Loop Capital increased their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Wells Fargo & Company lowered their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, DA Davidson started 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. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $634.71.

About Meta Platforms

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.