Meta Platforms, Inc. (NASDAQ:META) Stake Lessened by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 50.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,334 shares of the social networking company’s stock after selling 4,368 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Meta Platforms were worth $2,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Capital Research Global Investors grew its position in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Jennison Associates LLC grew its position in Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in Meta Platforms during the 2nd quarter valued at $595,152,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Susan J. Li sold 8,950 shares of the business’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 value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the transaction, the chief operating officer now owns 5,147 shares in the company, valued at approximately $2,684,057.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,817 shares of company stock valued at $132,547,715 over the last three months. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on META. Sanford C. Bernstein upped their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets upped their target price on Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. DA Davidson initiated coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Finally, Loop Capital increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $621.63.

Meta Platforms Stock Performance

NASDAQ META opened at $573.25 on Monday. The stock has a market cap of $1.45 trillion, a P/E ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. The company has a quick ratio of 2.83, a current 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 $602.95. The company’s 50-day simple moving average is $551.05 and its 200 day simple moving average is $510.65.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the business earned $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced 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 0.35%. Meta Platforms’s payout ratio is 10.21%.

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.