Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cheviot Value Management LLC

Cheviot Value Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,079 shares of the social networking company’s stock after selling 2,829 shares during the period. Meta Platforms makes up approximately 4.2% of Cheviot Value Management LLC’s investment portfolio, making the stock its 7th largest holding. Cheviot Value Management LLC’s holdings in Meta Platforms were worth $22,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% in the 2nd 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 during the period. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the third quarter valued at about $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $49,000. Finally, NewSquare Capital LLC boosted its position in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $574.32 on Monday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company’s 50 day moving average price is $575.21 and its two-hundred day moving average price is $527.76. The firm has a market cap of $1.45 trillion, a PE ratio of 27.05, a PEG ratio of 1.27 and a beta of 1.22. 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 (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Equities research analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the transaction, the insider now owns 37,790 shares of the company’s stock, valued at approximately $21,362,687. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,239 shares of company stock valued at $59,681,541 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on META. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. TD Cowen raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Robert W. Baird increased their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their price objective on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two investment 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 given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $634.71.

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.