Incline Global Management LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Incline Global Management LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 30.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,893 shares of the social networking company’s stock after selling 5,952 shares during the period. Meta Platforms comprises approximately 3.5% of Incline Global Management LLC’s investment portfolio, making the stock its 20th biggest holding. Incline Global Management LLC’s holdings in Meta Platforms were worth $7,953,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. boosted 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 valued at $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter valued at $46,000. West Financial Advisors LLC purchased a new stake in Meta Platforms in the third quarter valued at $49,000. Finally, NewSquare Capital LLC boosted its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on META shares. Bank of America upped their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets increased their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $522.00, for a total value of $215,586.00. Following the completion of the sale, the chief operating officer now directly owns 13,598 shares of the company’s stock, valued at approximately $7,098,156. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at $19,197,043.71. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,334 shares of company stock valued at $59,210,941 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.3 %

Shares of NASDAQ META traded up $1.50 during midday trading on Tuesday, reaching $594.33. 1,022,314 shares of the stock were exchanged, compared to its average volume of 14,804,930. The company has a 50 day simple moving average of $575.21 and a 200 day simple moving average of $528.08. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 27.92, a PEG ratio of 1.27 and a beta of 1.20. 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, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared 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 of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.