Courage Capital Management LLC Sells 500 Shares of Meta Platforms, Inc. (NASDAQ:META)

Courage Capital Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,500 shares of the social networking company’s stock after selling 500 shares during the period. Meta Platforms comprises about 9.5% of Courage Capital Management LLC’s holdings, making the stock its 6th biggest position. Courage Capital Management LLC’s holdings in Meta Platforms were worth $3,782,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of META. Quest Partners LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its position 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 worth $40,000 after purchasing an additional 44 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% in 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 in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on META. Stifel Nicolaus boosted their price target on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Evercore ISI raised their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $591.23.

Meta Platforms Stock Down 0.1 %

Shares of Meta Platforms stock opened at $567.36 on Friday. The company has a fifty day moving average price of $516.19 and a 200 day moving average price of $499.60. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $577.40. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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 was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Transactions at Meta Platforms

In related news, insider Christopher K. Cox sold 10,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the completion of the sale, the insider now directly owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Christopher K. Cox sold 10,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $569.93, for a total value of $5,699,300.00. Following the completion of the transaction, the insider now directly owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $560.00, for a total value of $231,280.00. Following the sale, the chief operating officer now directly owns 12,772 shares in the company, valued at $7,152,320. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,358 shares of company stock valued at $179,431,101. Corporate insiders own 13.71% of the company’s stock.

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.