Clarity Financial LLC Has $527,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Clarity Financial LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 921 shares of the social networking company’s stock after selling 185 shares during the period. Clarity Financial LLC’s holdings in Meta Platforms were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in META. International Assets Investment Management LLC raised its position in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the period. Sustainable Growth Advisers LP bought a new stake in shares of Meta Platforms during the second quarter worth $595,152,000. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Meta Platforms by 30.0% in the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after acquiring an additional 788,131 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction 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 approximately $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the transaction, the chief operating officer now directly owns 14,424 shares in the company, valued at approximately $7,744,534.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares in the company, valued at approximately $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 three months, insiders sold 228,118 shares of company stock valued at $121,237,935. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Roth Mkm upped their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America increased their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities lifted their target price on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company cut their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, DA Davidson began coverage on Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Trading Up 3.4 %

Shares of NASDAQ:META opened at $591.70 on Friday. The company’s 50-day moving average price is $558.95 and its two-hundred day moving average price is $514.71. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market capitalization of $1.50 trillion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

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.