Telos Capital Management Inc. Sells 27 Shares of Meta Platforms, Inc. (NASDAQ:META)

Telos Capital Management Inc. lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,238 shares of the social networking company’s stock after selling 27 shares during the quarter. Telos Capital Management Inc.’s holdings in Meta Platforms were worth $6,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in META. Delos Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on META. Roth Mkm upped their price objective on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Raymond James raised their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Rosenblatt Securities upped their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Mizuho raised their price target on Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Evercore ISI lifted their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $619.20.

Insider Activity

In related news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 492 shares of the firm’s 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 directly owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,912 shares of company stock worth $132,027,612. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 3.1 %

Shares of NASDAQ:META opened at $563.69 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 32.38, a P/E/G ratio of 1.45 and a beta of 1.22. The stock has a 50 day moving average price of $548.79 and a 200-day moving average price of $509.61.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $38.26 billion. During the same period in the prior year, the firm earned $3.23 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 dividend 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.