Tealwood Asset Management Inc. Lowers Stake in Meta Platforms, Inc. (NASDAQ:META)

Tealwood Asset Management Inc. decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,971 shares of the social networking company’s stock after selling 161 shares during the quarter. Meta Platforms makes up 2.0% of Tealwood Asset Management Inc.’s portfolio, making the stock its 2nd biggest holding. Tealwood Asset Management Inc.’s holdings in Meta Platforms were worth $4,563,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. raised its stake in shares of Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after buying an additional 163,067 shares during the period. Gradient Investments LLC grew its position in shares of Meta Platforms by 8.9% during the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Meta Platforms by 14.0% during the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after purchasing an additional 748,076 shares in the last quarter. ERn Financial LLC grew its position in shares of Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after purchasing an additional 613 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its position in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. Oppenheimer increased their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. TD Securities increased their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Sanford C. Bernstein increased their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Finally, Susquehanna raised their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $601.08.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the 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 completion of the sale, the insider now owns 35,102 shares of the company’s stock, valued at $20,308,262.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Jennifer Newstead sold 905 shares of the 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 completion of the sale, the insider now owns 35,102 shares of the company’s stock, valued at $20,308,262.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $570.00, for a total transaction of $235,410.00. Following the transaction, the chief operating officer now owns 12,359 shares in the company, valued at $7,044,630. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 282,621 shares of company stock valued at $148,657,449 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.6 %

META stock traded up $3.50 during trading on Tuesday, reaching $588.28. 2,964,211 shares of the company traded hands, compared to its average volume of 15,440,135. The business has a 50 day simple moving average of $529.45 and a 200 day simple moving average of $503.17. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. 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 company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business earned $3.23 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company 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 of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s payout ratio is 11.49%.

Meta Platforms Company 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.