Bridge Creek Capital Management LLC Sells 128 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bridge Creek Capital Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,614 shares of the social networking company’s stock after selling 128 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Meta Platforms were worth $3,786,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Marion Wealth Management raised its position in Meta Platforms by 2.2% in the 3rd quarter. Marion Wealth Management now owns 8,174 shares of the social networking company’s stock worth $4,679,000 after purchasing an additional 178 shares during the period. Dynamic Advisor Solutions LLC increased its stake in Meta Platforms by 4.3% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 36,544 shares of the social networking company’s stock worth $20,919,000 after buying an additional 1,507 shares during the period. Axiom Advisory LLC boosted its position in Meta Platforms by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 38,080 shares of the social networking company’s stock valued at $21,799,000 after buying an additional 613 shares during the period. Alpha Cubed Investments LLC grew its stake in Meta Platforms by 13.7% in the 3rd quarter. Alpha Cubed Investments LLC now owns 123,716 shares of the social networking company’s stock worth $70,820,000 after acquiring an additional 14,890 shares in the last quarter. Finally, Cardinal Point Capital Management ULC purchased a new position in shares of Meta Platforms during the third quarter worth approximately $347,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 282,621 shares of company stock valued at $148,657,449 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.5 %

NASDAQ META traded up $3.06 on Tuesday, reaching $587.84. The company had a trading volume of 764,797 shares, compared to its average volume of 15,429,681. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company’s fifty day moving average is $529.45 and its 200 day moving average is $503.17. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 33.59, a P/E/G ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the firm earned $3.23 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Rosenblatt Securities lifted their target price on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler raised their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer upped their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Raymond James lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $601.08.

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.