Garde Capital Inc. Has $3.19 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Garde Capital Inc. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 33.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,571 shares of the social networking company’s stock after selling 2,760 shares during the quarter. Garde Capital Inc.’s holdings in Meta Platforms were worth $3,189,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of META. Lindenwold Advisors INC increased its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares during the last quarter. Central Valley Advisors LLC raised its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC lifted its stake in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC boosted its holdings in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the period. Finally, Kozak & Associates Inc. grew its holdings in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 0.3 %

Shares of META opened at $630.79 on Friday. Meta Platforms, Inc. has a twelve month low of $328.64 and a twelve month high of $638.40. The stock has a market cap of $1.59 trillion, a PE ratio of 29.71, a P/E/G ratio of 1.39 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $583.48 and its 200-day moving average price is $536.44.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Tigress Financial lifted their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Raymond James reaffirmed a “strong-buy” rating and set a $675.00 target price on shares of Meta Platforms in a research note on Monday, November 25th. Finally, BMO Capital Markets upped their price target on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $635.20.

Insider Activity

In related news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the transaction, the insider now owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 214,002 shares of company stock valued at $126,740,653. 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.