Pacific Sage Partners LLC Has $1.18 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Pacific Sage Partners LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,052 shares of the social networking company’s stock after selling 35 shares during the quarter. Pacific Sage Partners LLC’s holdings in Meta Platforms were worth $1,175,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Delos Wealth Advisors LLC lifted its holdings in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. raised its holdings in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter worth $46,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock opened at $567.16 on Monday. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.83 and a current ratio of 2.73. The company has a 50-day simple moving average of $555.99 and a 200 day simple moving average of $513.25. Meta Platforms, Inc. has a 52 week low of $308.33 and a 52 week high of $602.95.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

Several research firms have weighed in on META. Roth Mkm increased their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research began coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price on the stock. TD Securities increased their target price on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Barclays increased their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Sanford C. Bernstein increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 6,534 shares of Meta Platforms stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the completion of the sale, the chief executive officer now owns 116,108 shares of the company’s stock, valued at approximately $58,639,184.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 6,534 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the sale, the chief executive officer now owns 116,108 shares of the company’s stock, valued at $58,639,184.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peggy Alford sold 1,052 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total transaction of $503,908.00. Following the completion of the sale, the director now directly owns 6,168 shares of the company’s stock, valued at $2,954,472. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,092 shares of company stock valued at $132,865,496. Company insiders own 13.71% of the company’s stock.

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.