Cable Hill Partners LLC Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Cable Hill Partners LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,719 shares of the social networking company’s stock after selling 27 shares during the period. Cable Hill Partners LLC’s holdings in Meta Platforms were worth $984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LS Investment Advisors LLC increased its position in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after acquiring an additional 6,155 shares during the period. Gradient Investments LLC grew its stake in Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Cutter & CO Brokerage Inc. grew its stake in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares in the last quarter. Stanley Laman Group Ltd. increased its holdings in Meta Platforms by 26.5% during the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after purchasing an additional 5,594 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. This represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock worth $84,533,106 in the last three months. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Guggenheim raised their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Robert W. Baird raised their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Roth Mkm upped their price target 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. Monness Crespi & Hardt lifted their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

Shares of META opened at $554.08 on Friday. The business’s 50-day moving average is $568.11 and its two-hundred day moving average is $520.60. The company has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

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