Cladis Investment Advisory LLC Sells 1,100 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cladis Investment Advisory LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 28.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,715 shares of the social networking company’s stock after selling 1,100 shares during the quarter. Meta Platforms accounts for approximately 1.1% of Cladis Investment Advisory LLC’s investment portfolio, making the stock its 23rd largest holding. Cladis Investment Advisory LLC’s holdings in Meta Platforms were worth $1,554,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in META. POM Investment Strategies LLC purchased a new position in Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. grew its position in shares of 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 buying an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new position in shares of Meta Platforms during the third quarter valued at $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $49,000. Finally, NewSquare Capital LLC lifted its stake in 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 acquiring an additional 71 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Robert W. Baird boosted their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, Jefferies Financial Group upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two 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. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Stock Performance

NASDAQ:META opened at $574.32 on Monday. The stock has a market capitalization of $1.45 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.27 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a fifty day moving average of $575.21 and a two-hundred day moving average of $527.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total transaction of $511,596.50. Following the transaction, the insider now owns 37,790 shares in the company, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 84 shares of the company’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 owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,239 shares of company stock valued at $59,681,541. Corporate 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.