Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Rappaport Reiches Capital Management LLC

by · The Markets Daily

Rappaport Reiches Capital Management LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,124 shares of the social networking company’s stock after selling 79 shares during the quarter. Meta Platforms comprises about 0.5% of Rappaport Reiches Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Rappaport Reiches Capital Management LLC’s holdings in Meta Platforms were worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional 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 worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC bought a new stake in Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. raised its position 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 acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter worth about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,443 shares of company stock worth $133,105,284. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several research reports. Bank of America boosted their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Raymond James boosted their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $608.00.

Read Our Latest Analysis on META

Meta Platforms Price Performance

Shares of META stock opened at $583.83 on Friday. The stock’s fifty day moving average is $536.08 and its 200-day moving average is $504.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.48 trillion, a PE ratio of 29.80, a PEG ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.23 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 10.21%.

Meta Platforms Profile

(Free Report)

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.

Featured Stories