C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $1.90 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.9% during the third quarter, HoldingsChannel.com reports. The firm owned 3,322 shares of the social networking company’s stock after selling 245 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Meta Platforms were worth $1,902,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Central Valley Advisors LLC raised its stake 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 buying an additional 18 shares during the period. S.A. Mason LLC raised its stake in Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares during the period. Front Row Advisors LLC raised its stake in Meta Platforms by 5.7% during the 2nd quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock worth $187,000 after buying an additional 20 shares during the period. Horizon Bancorp Inc. IN raised its stake in Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the period. Finally, Northern Capital Management Inc. raised its stake in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $592.89 on Wednesday. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The firm’s fifty day simple moving average is $532.05 and its two-hundred day simple moving average is $503.76. 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 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 EPS. As a group, analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current 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 given 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 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the completion of the sale, the insider now owns 36,035 shares in the company, valued at approximately $18,068,669.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the completion of the transaction, the insider now directly owns 36,035 shares in the company, valued at approximately $18,068,669.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,332 shares of company stock valued at $139,981,833 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Pivotal Research initiated coverage on Meta Platforms in a report on Tuesday, October 1st. They set a “buy” rating and a $780.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. TD Securities raised their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. TD Cowen raised their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $660.00 price target on shares of Meta Platforms in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $601.08.

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.