Angeles Investment Advisors LLC Reduces Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Angeles Investment Advisors LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 17.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,984 shares of the social networking company’s stock after selling 835 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Meta Platforms were worth $2,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Central Valley Advisors LLC increased its stake in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the period. Cherrydale Wealth Management LLC boosted its position in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC grew its stake in 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 acquiring an additional 18 shares in the last quarter. Kozak & Associates Inc. increased its position 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 during the period. Finally, Capital Advisors Ltd. LLC raised its stake 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 valued at $2,038,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $526.94, for a total transaction of $8,800,951.88. Following the sale, the chief executive officer now directly owns 46,292 shares of the company’s stock, valued at $24,393,106.48. This represents a 26.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,200 shares of company stock valued at $84,533,106. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on META. Mizuho increased their price objective on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Citigroup raised their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, DA Davidson initiated coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Down 4.0 %

META stock opened at $554.08 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm’s fifty day simple moving average is $568.11 and its 200-day simple moving average is $520.60. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22.

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 the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared 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. This represents a $2.00 annualized dividend and a 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.