Audent Global Asset Management LLC Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

Audent Global Asset Management LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 59.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,832 shares of the social networking company’s stock after selling 4,111 shares during the quarter. Meta Platforms comprises 2.8% of Audent Global Asset Management LLC’s holdings, making the stock its 14th largest position. Audent Global Asset Management LLC’s holdings in Meta Platforms were worth $1,621,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% during the second 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. Halpern Financial Inc. acquired a new stake in Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the third quarter worth about $49,000. Finally, NewSquare Capital LLC grew its holdings in Meta Platforms by 221.9% during 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the sale, the insider now owns 37,790 shares in the company, valued at $21,362,687. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,239 shares of company stock worth $59,681,541 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on META shares. Raymond James reaffirmed a “strong-buy” rating and set a $675.00 target price on shares of Meta Platforms in a report on Monday, November 25th. UBS Group raised their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho raised their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $574.32 on Monday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The business’s 50 day moving average price is $575.21 and its 200 day moving average price is $527.76.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

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