Hixon Zuercher LLC Sells 135 Shares of Meta Platforms, Inc. (NASDAQ:META)

Hixon Zuercher LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,609 shares of the social networking company’s stock after selling 135 shares during the period. Meta Platforms comprises approximately 1.9% of Hixon Zuercher LLC’s holdings, making the stock its 18th largest position. Hixon Zuercher LLC’s holdings in Meta Platforms were worth $4,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in META. Bailard Inc. lifted its stake in Meta Platforms by 0.8% during the 3rd quarter. Bailard Inc. now owns 81,392 shares of the social networking company’s stock valued at $46,592,000 after acquiring an additional 684 shares during the period. HF Advisory Group LLC grew its stake in shares of Meta Platforms by 20.4% in the third quarter. HF Advisory Group LLC now owns 7,663 shares of the social networking company’s stock worth $4,387,000 after acquiring an additional 1,299 shares during the period. Focused Wealth Management Inc lifted its position in Meta Platforms by 0.3% during the third quarter. Focused Wealth Management Inc now owns 11,269 shares of the social networking company’s stock valued at $6,451,000 after purchasing an additional 29 shares during the period. Financial Partners Group Inc boosted its holdings in Meta Platforms by 3.4% in the third quarter. Financial Partners Group Inc now owns 2,215 shares of the social networking company’s stock worth $1,268,000 after purchasing an additional 73 shares during the last quarter. Finally, Catalyst Private Wealth LLC grew its position in Meta Platforms by 2.4% in the 3rd quarter. Catalyst Private Wealth LLC now owns 8,123 shares of the social networking company’s stock worth $4,650,000 after purchasing an additional 191 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,118 shares of company stock valued at $121,237,935. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $589.34 on Friday. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a market cap of $1.49 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.24 and a beta of 1.22. The firm’s fifty day moving average is $560.42 and its 200 day moving average is $515.25. 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 announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. Evercore ISI raised their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Truist Financial increased their target price on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Susquehanna raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.