Meta Platforms, Inc. (NASDAQ:META) Stock Position Decreased by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,918 shares of the social networking company’s stock after selling 27 shares during the period. GHP Investment Advisors Inc.’s holdings in Meta Platforms were worth $13,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of META. Roberts Wealth Advisors LLC acquired a new position in Meta Platforms during the 1st quarter valued at about $308,000. LVW Advisors LLC lifted its stake in shares of Meta Platforms by 13.2% in the 1st quarter. LVW Advisors LLC now owns 7,164 shares of the social networking company’s stock worth $3,479,000 after acquiring an additional 834 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 1st quarter worth approximately $234,000. Pettinga Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 1st quarter worth approximately $249,000. Finally, Chapin Davis Inc. lifted its stake in shares of Meta Platforms by 23.7% in the 1st quarter. Chapin Davis Inc. now owns 10,918 shares of the social networking company’s stock worth $5,302,000 after acquiring an additional 2,091 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,230 shares of company stock valued at $132,784,843 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on META. Wells Fargo & Company upped their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Mizuho upped their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Raymond James upped their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. Morgan Stanley increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Evercore ISI increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $621.63.

Meta Platforms Price Performance

NASDAQ META opened at $593.28 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $553.36 and a 200 day simple moving average of $511.61. The company has a market cap of $1.50 trillion, a P/E ratio of 34.08, a P/E/G ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $296.86 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.23 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 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.