Red Spruce Capital LLC Sells 242 Shares of Meta Platforms, Inc. (NASDAQ:META)

Red Spruce Capital LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,859 shares of the social networking company’s stock after selling 242 shares during the quarter. Meta Platforms accounts for about 2.3% of Red Spruce Capital LLC’s portfolio, making the stock its 12th largest position. Red Spruce Capital LLC’s holdings in Meta Platforms were worth $5,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Valley Advisors LLC increased its holdings 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. S.A. Mason LLC increased its stake in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the period. Front Row Advisors LLC raised its holdings in shares of Meta Platforms by 5.7% during the second quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock worth $187,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN lifted its position in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the period. Finally, Northern Capital Management Inc. boosted its holdings in Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total value of $523,587.75. Following the completion of the sale, the insider now directly owns 35,102 shares of the company’s stock, valued at approximately $20,308,262.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total value of $523,587.75. Following the completion of the transaction, the insider now owns 35,102 shares of the company’s stock, valued at approximately $20,308,262.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $570.00, for a total transaction of $235,410.00. Following the sale, the chief operating officer now directly owns 12,359 shares in the company, valued at approximately $7,044,630. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 300,228 shares of company stock worth $158,005,260 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley upped their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. KeyCorp lifted their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird upped their price objective on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Citigroup raised their target price on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Two investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $598.08.

Meta Platforms Trading Up 2.3 %

Shares of Meta Platforms stock traded up $13.17 during trading hours 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 firm has a fifty day moving average of $527.07 and a 200-day moving average of $502.60. 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 has a market cap of $1.51 trillion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 1.39 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $596.85.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.23 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

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.