Single Point Partners LLC Sells 80 Shares of Meta Platforms, Inc. (NASDAQ:META)

Single Point Partners LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 724 shares of the social networking company’s stock after selling 80 shares during the period. Meta Platforms comprises about 0.6% of Single Point Partners LLC’s portfolio, making the stock its 22nd biggest holding. Single Point Partners LLC’s holdings in Meta Platforms were worth $415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors increased its holdings in Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital Research Global Investors raised its position in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC grew its holdings in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after purchasing an additional 342,742 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 150 shares of the firm’s 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 directly owns 124,387 shares in the company, valued at $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75. Following the sale, the insider now owns 35,102 shares of the company’s stock, valued at $20,308,262.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 300,228 shares of company stock valued at $158,005,260. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.7 %

Shares of Meta Platforms stock opened at $582.77 on Friday. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 33.47, a P/E/G ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $583.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock’s 50-day simple moving average is $524.47 and its 200 day simple moving average is $501.92.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating 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 company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS 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 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 0.34%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on META. KeyCorp lifted their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $660.00 price objective on shares of Meta Platforms in a research note on Monday. Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Finally, TD Cowen lifted their price objective on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $598.08.

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.