Channing Global Advisors LLC Sells 40 Shares of Meta Platforms, Inc. (NASDAQ:META)

Channing Global Advisors LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,168 shares of the social networking company’s stock after selling 40 shares during the quarter. Meta Platforms comprises 4.9% of Channing Global Advisors LLC’s holdings, making the stock its 6th biggest position. Channing Global Advisors LLC’s holdings in Meta Platforms were worth $5,821,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in shares of Meta Platforms by 3.6% in the third quarter. Captrust Financial Advisors now owns 446,447 shares of the social networking company’s stock valued at $255,564,000 after buying an additional 15,520 shares during the period. Atlantic Union Bankshares Corp lifted its position in shares of Meta Platforms by 1.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 42,196 shares of the social networking company’s stock valued at $24,155,000 after acquiring an additional 406 shares during the period. Infusive Asset Management Inc. grew its holdings in shares of Meta Platforms by 4.6% during the 3rd quarter. Infusive Asset Management Inc. now owns 31,005 shares of the social networking company’s stock worth $17,749,000 after purchasing an additional 1,353 shares in the last quarter. Icon Wealth Advisors LLC increased its position in shares of Meta Platforms by 4.4% in the third quarter. Icon Wealth Advisors LLC now owns 6,316 shares of the social networking company’s stock worth $3,616,000 after purchasing an additional 268 shares during the period. Finally, D1 Capital Partners L.P. acquired a new position in Meta Platforms in the third quarter valued at about $144,063,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total value of $470,600.00. Following the transaction, the insider now owns 38,722 shares in the company, valued at approximately $20,135,440. This represents a 2.28 % 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, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,239 shares of company stock valued at $59,681,541 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on META. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. KeyCorp upped their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Trading Up 0.9 %

Shares of META stock opened at $574.32 on Friday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50 day simple moving average of $575.21 and a two-hundred day simple moving average of $527.37. The company has a market cap of $1.45 trillion, a P/E ratio of 27.05, a PEG ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.