Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Thompson Davis & CO. Inc.

Thompson Davis & CO. Inc. reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,446 shares of the social networking company’s stock after selling 50 shares during the quarter. Meta Platforms comprises approximately 0.6% of Thompson Davis & CO. Inc.’s portfolio, making the stock its 24th biggest position. Thompson Davis & CO. Inc.’s holdings in Meta Platforms were worth $828,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of META. Lindenwold Advisors INC boosted its position in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the period. Central Valley Advisors LLC boosted its position in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC grew its stake in shares of Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the period. Finally, Kozak & Associates Inc. lifted its holdings in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after purchasing an additional 18 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on META. TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Piper Sandler raised their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Mizuho upped their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25. Following the completion of the transaction, the insider now owns 39,627 shares in the company, valued at $20,568,394.35. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 620 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the sale, the chief operating officer now owns 19,992 shares in the company, valued at approximately $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,843 shares of company stock valued at $92,083,554 over the last three months. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $559.14 on Friday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a market cap of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.24 and a beta of 1.22. The business’s 50 day moving average is $572.74 and its two-hundred day moving average is $523.96. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

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.