Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cladis Investment Advisory LLC

Cladis Investment Advisory LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 28.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,715 shares of the social networking company’s stock after selling 1,100 shares during the quarter. Meta Platforms comprises about 1.1% of Cladis Investment Advisory LLC’s portfolio, making the stock its 23rd biggest holding. Cladis Investment Advisory LLC’s holdings in Meta Platforms were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Lindenwold Advisors INC increased its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC grew its holdings in 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 valued at $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised 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 worth $2,199,000 after acquiring an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC lifted its position 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 acquiring an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. increased its position in Meta Platforms by 1.0% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total transaction of $470,600.00. Following the sale, the insider now directly owns 38,722 shares of the company’s stock, valued at approximately $20,135,440. This represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,239 shares of company stock worth $59,681,541 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.9 %

Shares of META opened at $574.32 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The stock has a 50-day moving average price of $575.21 and a 200 day moving average price of $527.76. The company has a market capitalization of $1.45 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.27 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted 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. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays raised their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Guggenheim lifted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Monness Crespi & Hardt boosted their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.