Donald L. Hagan LLC Cuts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Donald L. Hagan LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,082 shares of the social networking company’s stock after selling 210 shares during the period. Meta Platforms comprises approximately 1.5% of Donald L. Hagan LLC’s holdings, making the stock its 10th largest position. Donald L. Hagan LLC’s holdings in Meta Platforms were worth $2,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. CV Advisors LLC increased its stake in Meta Platforms by 479.0% during the 3rd quarter. CV Advisors LLC now owns 2,889 shares of the social networking company’s stock valued at $1,654,000 after purchasing an additional 2,390 shares in the last quarter. Consilium Wealth Advisory LLC boosted its stake in Meta Platforms by 3.6% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 5,621 shares of the social networking company’s stock valued at $3,217,000 after purchasing an additional 193 shares during the last quarter. Centennial Wealth Advisory LLC increased its holdings in Meta Platforms by 9.3% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 2,149 shares of the social networking company’s stock worth $1,230,000 after purchasing an additional 183 shares in the last quarter. Maia Wealth LLC lifted its holdings in shares of Meta Platforms by 13.4% in the third quarter. Maia Wealth LLC now owns 8,684 shares of the social networking company’s stock valued at $4,931,000 after purchasing an additional 1,026 shares in the last quarter. Finally, Umpqua Bank raised its position in Meta Platforms by 5.4% in the 3rd quarter. Umpqua Bank now owns 781 shares of the social networking company’s stock valued at $447,000 after buying an additional 40 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

META opened at $589.34 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The stock has a 50-day moving average price of $561.78 and a 200-day moving average price of $516.13. The firm has a market cap of $1.49 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

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, 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 for the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the 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 completion of the sale, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at approximately $38,302,705.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the company’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 $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,118 shares of company stock worth $121,237,935. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. Tigress Financial upped their price objective 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. Bank of America raised their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Raymond James lifted their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. Mizuho raised their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $634.10.

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.