Meta Platforms, Inc. $META Holdings Decreased by Headlands Technologies LLC

Headlands Technologies LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 78.7% in the 2nd quarter, Holdings Channel reports. The fund owned 10,592 shares of the social networking company’s stock after selling 39,037 shares during the period. Meta Platforms makes up about 0.9% of Headlands Technologies LLC’s portfolio, making the stock its 18th biggest position. Headlands Technologies LLC’s holdings in Meta Platforms were worth $7,818,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Bare Financial Services Inc acquired a new position in Meta Platforms in the 2nd quarter valued at approximately $30,000. Evergreen Private Wealth LLC grew its holdings in shares of Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 38 shares in the last quarter. Briaud Financial Planning Inc acquired a new position in shares of Meta Platforms in the second quarter worth $42,000. Knuff & Co LLC purchased a new stake in shares of Meta Platforms during the second quarter worth $44,000. Finally, WFA Asset Management Corp boosted its position in Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 1.3%

Meta Platforms stock opened at $644.23 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The firm has a fifty day moving average price of $665.92 and a two-hundred day moving average price of $707.24. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 1.35 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. During the same period in the previous year, the company posted $6.03 earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio is currently 9.28%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on META. Wells Fargo & Company reduced their price target on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $825.00 price objective (down previously from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. DA Davidson set a $825.00 price target on shares of Meta Platforms in a research note on Thursday, October 30th. BNP Paribas Exane started coverage on shares of Meta Platforms in a report on Monday, November 24th. They set an “outperform” rating and a $800.00 price target on the stock. Finally, TD Cowen decreased their price objective on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $819.46.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 11,690 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the completion of the transaction, the chief technology officer directly owned 2,415 shares in the company, valued at $1,432,843.65. This represents a 82.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $669.63, for a total transaction of $346,198.71. Following the completion of the sale, the chief operating officer directly owned 13,751 shares of the company’s stock, valued at approximately $9,208,082.13. This trade represents a 3.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,959 shares of company stock worth $26,578,191. Insiders own 13.61% of the company’s stock.

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.