Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 57.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,391 shares of the social networking company’s stock after selling 1,903 shares during the quarter. Meta Platforms accounts for approximately 0.8% of Central Asset Investments & Management Holdings HK Ltd’s holdings, making the stock its 19th largest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Meta Platforms were worth $796,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Central Valley Advisors LLC raised its stake in 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 during the period. Cherrydale Wealth Management LLC raised its position in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares during the last quarter. Kozak & Associates Inc. lifted its holdings in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after purchasing an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $554.40 on Tuesday. The company has a market capitalization of $1.40 trillion, a PE ratio of 26.11, a PEG ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company’s 50 day moving average price is $569.10 and its 200 day moving average price is $521.96. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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 analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now directly owns 338,662 shares in the company, valued at approximately $188,810,838.24. This represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,593 shares of company stock valued at $75,253,970. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on META. Tigress Financial raised their target price on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Mizuho boosted their price target on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Raymond James raised their price target on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Roth Mkm upped their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. 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 given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.10.

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.