DMC Group LLC Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

DMC Group LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,535 shares of the social networking company’s stock after selling 414 shares during the quarter. Meta Platforms accounts for about 2.6% of DMC Group LLC’s investment portfolio, making the stock its 5th largest holding. DMC Group LLC’s holdings in Meta Platforms were worth $3,168,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms during the first quarter worth about $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00. Following the sale, the chief operating officer now directly owns 5,559 shares of the company’s stock, valued at approximately $2,573,817. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,911 shares of company stock worth $131,978,559. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on META. Monness Crespi & Hardt boosted their target price on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Susquehanna boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Raymond James lifted their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. Tigress Financial boosted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Finally, Wolfe Research assumed coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective for the company. Two 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $617.37.

Meta Platforms Trading Down 0.2 %

Shares of META stock opened at $575.16 on Tuesday. The stock has a market cap of $1.46 trillion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $547.72 and a 200 day simple moving average of $509.22.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Meta Platforms 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.