Sather Financial Group Inc Sells 80 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sather Financial Group Inc lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 963 shares of the social networking company’s stock after selling 80 shares during the quarter. Sather Financial Group Inc’s holdings in Meta Platforms were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter worth about $38,000. 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 acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter worth about $49,000. Finally, NewSquare Capital LLC increased its position in shares of Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Raymond James lifted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. DA Davidson assumed coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. Pivotal Research lifted their price target on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Oppenheimer upped their price objective on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $519.05, for a total transaction of $469,740.25. Following the transaction, the insider now owns 39,627 shares in the company, valued at $20,568,394.35. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $531.46, for a total transaction of $8,876,444.92. Following the sale, the chief executive officer now owns 11,384 shares in the company, valued at approximately $6,050,140.64. The trade was a 59.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,958 shares of company stock valued at $101,181,747. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

META stock opened at $561.09 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a 50-day moving average of $570.23 and a 200 day moving average of $522.73. The company has a market cap of $1.42 trillion, a P/E ratio of 26.43, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced 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 firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued 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 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.