Capasso Planning Partners LLC Reduces Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Capasso Planning Partners LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 42.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 806 shares of the social networking company’s stock after selling 599 shares during the quarter. Capasso Planning Partners LLC’s holdings in Meta Platforms were worth $461,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlueSky Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the second quarter valued at about $857,000. ERn Financial LLC boosted its position in shares of Meta Platforms by 11.3% during the second quarter. ERn Financial LLC now owns 1,839 shares of the social networking company’s stock worth $927,000 after buying an additional 187 shares during the period. Mcdonald Partners LLC grew its stake in shares of Meta Platforms by 0.8% in the second quarter. Mcdonald Partners LLC now owns 5,903 shares of the social networking company’s stock valued at $2,977,000 after buying an additional 44 shares in the last quarter. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Finally, Narus Financial Partners LLC lifted its stake in Meta Platforms by 1.0% during the 2nd quarter. Narus Financial Partners LLC now owns 3,249 shares of the social networking company’s stock worth $1,638,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $618.00, for a total transaction of $559,290.00. Following the sale, the insider now owns 35,630 shares of the company’s stock, valued at $22,019,340. The trade was a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 214,002 shares of company stock valued at $126,740,653. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 0.3 %

META opened at $630.79 on Friday. Meta Platforms, Inc. has a 52 week low of $328.64 and a 52 week high of $638.40. The business has a 50 day moving average price of $583.48 and a two-hundred day moving average price of $536.44. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.59 trillion, a PE ratio of 29.71, a P/E/G ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 35.55% and a return on equity of 35.60%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Analysts Set New Price Targets

META has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. DA Davidson initiated coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Bank of America upped their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Tigress Financial boosted their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $635.20.

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.