Blue Square Asset Management LLC Lowers Stake in Meta Platforms, Inc. (NASDAQ:META)

Blue Square Asset Management LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 910 shares of the social networking company’s stock after selling 34 shares during the quarter. Blue Square Asset Management LLC’s holdings in Meta Platforms were worth $521,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Lansing Street Advisors boosted its stake in shares of Meta Platforms by 7.8% during the 3rd quarter. Lansing Street Advisors now owns 774 shares of the social networking company’s stock worth $443,000 after acquiring an additional 56 shares in the last quarter. Harvey Capital Management Inc. boosted its stake in shares of Meta Platforms by 24.2% during the 3rd quarter. Harvey Capital Management Inc. now owns 10,060 shares of the social networking company’s stock worth $5,759,000 after acquiring an additional 1,960 shares in the last quarter. TrueWealth Advisors LLC boosted its stake in shares of Meta Platforms by 14.0% during the 3rd quarter. TrueWealth Advisors LLC now owns 1,080 shares of the social networking company’s stock worth $618,000 after acquiring an additional 133 shares in the last quarter. RWQ Financial Management Services Inc. boosted its stake in shares of Meta Platforms by 46.1% during the 3rd quarter. RWQ Financial Management Services Inc. now owns 74,932 shares of the social networking company’s stock worth $42,894,000 after acquiring an additional 23,647 shares in the last quarter. Finally, BSW Wealth Partners boosted its stake in shares of Meta Platforms by 4.3% during the 3rd quarter. BSW Wealth Partners now owns 4,601 shares of the social networking company’s stock worth $2,634,000 after acquiring an additional 190 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the sale, the chief operating officer now directly owns 10,294 shares of the company’s stock, valued at approximately $5,842,668.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Friday, August 9th. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the sale, the chief executive officer now directly owns 98,654 shares of the company’s stock, valued at approximately $50,618,380.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now directly owns 10,294 shares of the company’s stock, valued at approximately $5,842,668.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,919 shares of company stock worth $129,296,067 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on META. Roth Mkm increased their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial raised their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Tigress Financial raised their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Finally, Citigroup raised their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Performance

NASDAQ:META opened at $572.05 on Thursday. The company has a fifty day simple moving average of $557.85 and a two-hundred day simple moving average of $514.31. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.