ASB Consultores LLC Sells 26 Shares of Meta Platforms, Inc. (NASDAQ:META)

ASB Consultores LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,468 shares of the social networking company’s stock after selling 26 shares during the period. Meta Platforms accounts for about 0.8% of ASB Consultores LLC’s portfolio, making the stock its 17th largest holding. ASB Consultores LLC’s holdings in Meta Platforms were worth $1,985,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FSM Wealth Advisors LLC grew its holdings in Meta Platforms by 16.3% in the 3rd quarter. FSM Wealth Advisors LLC now owns 2,973 shares of the social networking company’s stock valued at $1,702,000 after buying an additional 417 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Meta Platforms by 24.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 8,563 shares of the social networking company’s stock worth $4,902,000 after purchasing an additional 1,708 shares in the last quarter. Rational Advisors LLC increased its holdings in shares of Meta Platforms by 16.7% during the third quarter. Rational Advisors LLC now owns 9,365 shares of the social networking company’s stock worth $5,361,000 after purchasing an additional 1,339 shares during the period. Quintet Private Bank Europe S.A. raised its position in shares of Meta Platforms by 21.2% in the third quarter. Quintet Private Bank Europe S.A. now owns 8,801 shares of the social networking company’s stock valued at $5,038,000 after buying an additional 1,539 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Meta Platforms by 121.8% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 9,672 shares of the social networking company’s stock valued at $5,537,000 after buying an additional 5,312 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 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 value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 228,118 shares of company stock worth $121,237,935. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

META has been the subject of several analyst reports. Robert W. Baird lifted their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Evercore ISI upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Performance

META stock opened at $591.70 on Friday. The firm has a market cap of $1.50 trillion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $558.95 and a 200-day moving average price of $514.71. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities research analysts expect that Meta Platforms, Inc. will post 22.53 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.