TCV Trust & Wealth Management Inc. Sells 134 Shares of Meta Platforms, Inc. (NASDAQ:META)

TCV Trust & Wealth Management Inc. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 365 shares of the social networking company’s stock after selling 134 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Meta Platforms were worth $209,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Clear Harbor Asset Management LLC lifted its position in shares of Meta Platforms by 1.9% during the third quarter. Clear Harbor Asset Management LLC now owns 7,535 shares of the social networking company’s stock worth $4,313,000 after purchasing an additional 140 shares in the last quarter. Smith Salley Wealth Management raised its stake in shares of Meta Platforms by 3.4% during the third quarter. Smith Salley Wealth Management now owns 77,782 shares of the social networking company’s stock worth $44,525,000 after buying an additional 2,522 shares during the last quarter. Mattern Capital Management LLC increased its stake in Meta Platforms by 7.2% in the third quarter. Mattern Capital Management LLC now owns 1,541 shares of the social networking company’s stock valued at $882,000 after purchasing an additional 103 shares in the last quarter. Modera Wealth Management LLC increased its stake in Meta Platforms by 3.2% in the third quarter. Modera Wealth Management LLC now owns 8,365 shares of the social networking company’s stock valued at $4,789,000 after purchasing an additional 260 shares in the last quarter. Finally, MCF Advisors LLC increased its stake in Meta Platforms by 1.1% in the third quarter. MCF Advisors LLC now owns 4,966 shares of the social networking company’s stock valued at $2,843,000 after purchasing an additional 56 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. Oppenheimer increased their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Mizuho lifted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their price objective on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $621.63.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold a total of 251,230 shares of company stock worth $132,784,843 in the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $593.28 on Wednesday. The company’s fifty day moving average price is $553.36 and its 200-day moving average price is $511.61. 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 stock has a market cap of $1.50 trillion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $296.86 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last posted 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 return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 21.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given 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 11.49%.

Meta Platforms Company 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.