Meta Platforms, Inc. $META Shares Sold by DeDora Capital Inc.

DeDora Capital Inc. reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,792 shares of the social networking company’s stock after selling 39 shares during the quarter. Meta Platforms accounts for 1.1% of DeDora Capital Inc.’s investment portfolio, making the stock its 23rd biggest holding. DeDora Capital Inc.’s holdings in Meta Platforms were worth $4,275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Csenge Advisory Group lifted its holdings in shares of Meta Platforms by 12.0% in the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock valued at $5,498,000 after buying an additional 1,019 shares during the period. ARQ Wealth Advisors LLC raised its position in Meta Platforms by 4.5% in the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock worth $452,000 after acquiring an additional 34 shares in the last quarter. JMG Financial Group Ltd. acquired a new position in shares of Meta Platforms during the 1st quarter worth $284,000. Infusive Asset Management Inc. grew its stake in shares of Meta Platforms by 10.7% during the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock worth $13,614,000 after purchasing an additional 2,285 shares during the period. Finally, Spirepoint Private Client LLC grew its stake in shares of Meta Platforms by 2.7% during the 2nd quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after purchasing an additional 109 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on META shares. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $610.00 to $710.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. Bank of America raised their price objective on Meta Platforms from $775.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $795.00 to $875.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Hsbc Global Res raised Meta Platforms from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a research report on Tuesday, October 14th. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $829.66.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $751.44 on Wednesday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a 50-day simple moving average of $741.78 and a 200-day simple moving average of $694.67. The company has a market cap of $1.89 trillion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. Meta Platforms’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the business earned $5.16 earnings per share. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio is presently 7.60%.

Insider Buying and Selling at Meta Platforms

In other news, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $716.97, for a total value of $333,391.05. Following the transaction, the director directly owned 7,947 shares of the company’s stock, valued at $5,697,760.59. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $736.37, for a total transaction of $382,176.03. Following the completion of the sale, the insider directly owned 28,275 shares of the company’s stock, valued at $20,820,861.75. The trade was a 1.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 213,146 shares of company stock valued at $164,208,279. Company insiders own 13.61% of the company’s stock.

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.