Symmetry Partners LLC Has $1.19 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Symmetry Partners LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 93.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,081 shares of the social networking company’s stock after selling 29,073 shares during the quarter. Symmetry Partners LLC’s holdings in Meta Platforms were worth $1,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during 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 period. POM Investment Strategies LLC bought a new position in Meta Platforms in the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. grew its stake in 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 acquiring an additional 44 shares during the period. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms during the third quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total value of $8,827,174.02. Following the sale, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This trade 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 through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the sale, the chief executive officer now owns 72,473 shares in the company, valued at $38,302,705.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $532.21, for a total value of $481,650.05. Following the transaction, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,919 shares of company stock valued at $129,296,067. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on META shares. Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Evercore ISI upped their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Robert W. Baird raised their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $572.43 on Wednesday. The company has a 50 day moving average of $556.78 and a 200 day moving average of $513.67. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.45 trillion, a P/E ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 22.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is presently 9.42%.

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.