Arcus Capital Partners LLC Sells 219 Shares of Meta Platforms, Inc. (NASDAQ:META)

Arcus Capital Partners LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,489 shares of the social networking company’s stock after selling 219 shares during the quarter. Arcus Capital Partners LLC’s holdings in Meta Platforms were worth $1,425,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of META. Central Valley Advisors LLC grew its position in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC boosted its holdings in shares of 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 valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. boosted its holdings in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Loop Capital boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the 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 sale, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $526.94, for a total transaction of $8,800,951.88. Following the sale, the chief executive officer now directly owns 46,292 shares in the company, valued at $24,393,106.48. This represents a 26.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock valued at $84,533,106 over the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 4.0 %

Shares of META stock opened at $554.08 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $1.40 trillion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. The company has a 50-day moving average of $568.11 and a two-hundred day moving average of $519.97. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) 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.