Quad Cities Investment Group LLC Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

Quad Cities Investment Group LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,315 shares of the social networking company’s stock after selling 43 shares during the period. Quad Cities Investment Group LLC’s holdings in Meta Platforms were worth $753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of META. Capital Research Global Investors lifted its position in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Jennison Associates LLC raised its stake in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in Meta Platforms in the second quarter worth about $595,152,000. Global Assets Advisory LLC bought a new stake in Meta Platforms during the 1st quarter valued at approximately $515,383,000. Finally, Vanguard Group Inc. grew its holdings in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $576.93 on Friday. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 33.14, a PEG ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The business has a fifty day moving average of $545.36 and a 200 day moving average of $508.09.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the company posted $3.23 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

META has been the subject of a number of research analyst reports. Roth Mkm raised their target price on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Susquehanna raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Tigress Financial increased their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, JMP Securities boosted their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the sale, the insider now directly owns 35,130 shares in the company, valued at $17,206,674. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares in the company, valued at $17,206,674. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,816 shares of company stock worth $132,421,828 in the last 90 days. 13.71% of the stock is currently owned by insiders.

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.