Quent Capital LLC Has $3.46 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Quent Capital LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,051 shares of the social networking company’s stock after selling 28 shares during the period. Quent Capital LLC’s holdings in Meta Platforms were worth $3,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, Richardson Financial Services Inc. grew its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of a number of research analyst reports. Rosenblatt Securities raised their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group upped their target price on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $660.00 target price on shares of Meta Platforms in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $598.08.

Meta Platforms Stock Up 2.3 %

NASDAQ META traded up $13.17 during mid-day trading on Friday, hitting $595.94. The company’s stock had a trading volume of 14,199,788 shares, compared to its average volume of 15,523,651. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s 50 day simple moving average is $527.07 and its 200 day simple moving average is $502.60. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $596.85. The firm has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the firm posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Monday, July 8th. The stock was sold at an average price of $530.75, for a total transaction of $8,864,586.50. Following the sale, the chief executive officer now directly owns 169,372 shares in the company, valued at approximately $89,894,189. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 300,228 shares of company stock worth $158,005,260. 13.71% of the stock is owned by corporate insiders.

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.