Lecap Asset Management Ltd. Sells 1,031 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lecap Asset Management Ltd. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 57.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 768 shares of the social networking company’s stock after selling 1,031 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Meta Platforms were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms during the 1st quarter valued at $44,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the transaction, the chief operating officer now owns 5,147 shares of the company’s stock, valued at approximately $2,684,057.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,817 shares of company stock worth $132,547,715. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $567.78 on Friday. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.61, a PEG ratio of 1.45 and a beta of 1.22. The company’s 50 day moving average is $549.53 and its 200 day moving average is $509.99. 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 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (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 business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the company earned $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

META has been the topic of several research analyst reports. Raymond James increased their price target on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Guggenheim upped their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Wolfe Research started coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective for the company. Stifel Nicolaus upped their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets upped their price objective on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 9th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $619.20.

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.