Forte Asset Management LLC Has $343,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Forte Asset Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 20.0% in the third quarter, HoldingsChannel reports. The firm owned 600 shares of the social networking company’s stock after selling 150 shares during the period. Forte Asset Management LLC’s holdings in Meta Platforms were worth $343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Finally, Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $567.16 on Monday. Meta Platforms, Inc. has a 1-year low of $308.33 and a 1-year high of $602.95. The firm has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. The business’s 50 day moving average is $555.99 and its 200-day moving average is $513.25. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 21.84 earnings per share for the current year.

Meta Platforms Announces Dividend

The company 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. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday. DA Davidson began coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Pivotal Research raised 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,092 shares of company stock valued at $132,865,496. 13.71% of the stock is owned by corporate insiders.

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.