Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Leisure Capital Management

Leisure Capital Management cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,324 shares of the social networking company’s stock after selling 50 shares during the period. Meta Platforms makes up about 1.3% of Leisure Capital Management’s investment portfolio, making the stock its 17th largest holding. Leisure Capital Management’s holdings in Meta Platforms were worth $3,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bath Savings Trust Co bought a new stake in Meta Platforms in the first quarter worth $218,000. jvl associates llc boosted its holdings in Meta Platforms by 6.9% during the first quarter. jvl associates llc now owns 777 shares of the social networking company’s stock valued at $377,000 after acquiring an additional 50 shares during the period. Emprise Bank acquired a new position in shares of Meta Platforms during the first quarter valued at about $1,801,000. Neville Rodie & Shaw Inc. raised its position in shares of Meta Platforms by 13.8% during the first quarter. Neville Rodie & Shaw Inc. now owns 15,055 shares of the social networking company’s stock valued at $7,310,000 after buying an additional 1,830 shares during the last quarter. Finally, Abner Herrman & Brock LLC raised its position in shares of Meta Platforms by 39.2% during the first quarter. Abner Herrman & Brock LLC now owns 15,990 shares of the social networking company’s stock valued at $7,764,000 after buying an additional 4,499 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $576.79 on Thursday. The company’s 50 day moving average price is $544.01 and its two-hundred day moving average price is $507.60. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The firm has a market cap of $1.46 trillion, a PE ratio of 33.13, a PEG ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. Jefferies Financial Group increased their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Loop Capital increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Tigress Financial raised their price objective 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, Wells Fargo & Company boosted their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $613.71.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. 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 249,911 shares of company stock valued at $131,887,905 in the last quarter. Insiders own 13.71% of the company’s stock.

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.