Meta Platforms, Inc. (NASDAQ:META) Holdings Lowered by Northside Capital Management LLC

Northside Capital Management LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 406,377 shares of the social networking company’s stock after selling 14,269 shares during the quarter. Meta Platforms accounts for 36.3% of Northside Capital Management LLC’s holdings, making the stock its largest position. Northside Capital Management LLC’s holdings in Meta Platforms were worth $232,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% in the 1st 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 period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its stake 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 acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at about $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares in the company, valued at $19,641,281.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the business’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 transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,816 shares of company stock valued at $132,421,828 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 9th. Susquehanna lifted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Stock Down 0.1 %

Shares of META opened at $576.47 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.46 trillion, a PE ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. The company’s 50-day simple moving average is $546.53 and its 200-day simple moving average is $508.77. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company posted $3.23 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared 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 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 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.