Meta Platforms, Inc. (NASDAQ:META) is Trust Asset Management LLC’s 10th Largest Position

Trust Asset Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,586 shares of the social networking company’s stock after selling 79 shares during the quarter. Meta Platforms makes up about 1.2% of Trust Asset Management LLC’s holdings, making the stock its 10th largest holding. Trust Asset Management LLC’s holdings in Meta Platforms were worth $14,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms in the 3rd quarter valued at $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth $49,000. Finally, NewSquare Capital LLC boosted its position in shares of Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during 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 related news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,656 shares of company stock valued at $61,933,867. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. Mizuho increased their price objective on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, DA Davidson began 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. Two equities 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Trading Up 1.5 %

Shares of Meta Platforms stock opened at $573.54 on Wednesday. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company’s 50-day simple moving average is $573.38 and its 200-day simple moving average is $525.35. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations 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 anticipate that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Announces Dividend

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