Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Cut by BluePath Capital Management LLC

BluePath Capital Management LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,612 shares of the social networking company’s stock after selling 209 shares during the quarter. Meta Platforms comprises 1.3% of BluePath Capital Management LLC’s portfolio, making the stock its 15th largest holding. BluePath Capital Management LLC’s holdings in Meta Platforms were worth $2,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Valley Advisors LLC raised its holdings in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares in the last quarter. Kozak & Associates Inc. raised its holdings in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after acquiring an additional 18 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 1.1 %

Shares of META opened at $560.68 on Tuesday. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 1.36 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a 50-day moving average price of $556.78 and a two-hundred day moving average price of $513.67.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping 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 analysts’ expectations of $40.21 billion. Equities analysts predict that Meta Platforms, Inc. will post 21.84 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Analyst Ratings Changes

Several brokerages recently issued reports on META. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Citigroup increased their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James increased their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Finally, 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 report 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Insider Activity

In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. 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 accessible through this link. In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. 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 accessible through this link. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,040 shares of company stock worth $132,361,588. Insiders own 13.71% of the company’s stock.

About Meta Platforms

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.