Tamar Securities LLC Sells 924 Shares of Meta Platforms, Inc. $META

Key Points

• Tamar Securities reduced its Meta stake by 924 shares, or 1.6%, in the third quarter, retaining 56,495 shares valued at about $41.0 million. Meta remains 3.7% of the fund’s portfolio and its eighth-largest holding.
• Meta reported quarterly earnings of $7.40 per share, above the $6.54 consensus estimate, while revenue rose 26.1% year over year to $64.6 billion.
• Institutional investors own 79.91% of Meta shares, and analysts’ consensus rating is “Moderate Buy,” with an average price target of $833.12.

Tamar Securities LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,495 shares of the social networking company's stock after selling 924 shares during the period. Meta Platforms comprises approximately 3.7% of Tamar Securities LLC's portfolio, making the stock its 8th largest position. Tamar Securities LLC's holdings in Meta Platforms were worth $40,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Bill Few Associates Inc. increased its position in shares of Meta Platforms by 1.3% during the third quarter. Bill Few Associates Inc. now owns 1,206 shares of the social networking company's stock worth $874,000 after purchasing an additional 15 shares in the last quarter. Value Partners Investments Inc. boosted its position in shares of Meta Platforms by 1.8% in the 3rd quarter. Value Partners Investments Inc. now owns 866 shares of the social networking company's stock valued at $630,000 after purchasing an additional 15 shares during the period. Tenzing Financial LLC boosted its position in shares of Meta Platforms by 1.3% in the 2nd quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company's stock valued at $726,000 after purchasing an additional 16 shares during the period. Uptown Financial Advisors LLC boosted its position in shares of Meta Platforms by 1.3% in the 2nd quarter. Uptown Financial Advisors LLC now owns 1,273 shares of the social networking company's stock valued at $717,000 after purchasing an additional 16 shares during the period. Finally, Sheets Smith Wealth Management boosted its position in shares of Meta Platforms by 2.8% in the 2nd quarter. Sheets Smith Wealth Management now owns 594 shares of the social networking company's stock valued at $334,000 after purchasing an additional 16 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 2.0%

Shares of Meta Platforms stock opened at $628.77 on Thursday. The company has a market cap of $1.61 trillion, a P/E ratio of 21.44, a PEG ratio of 1.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90. Meta Platforms, Inc. has a one year low of $520.26 and a one year high of $779.82. The firm has a fifty day moving average of $678.62 and a two-hundred day moving average of $632.12.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The business had revenue of $64.60 billion for the quarter, compared to the consensus estimate of $63.34 billion. During the same quarter in the previous year, the firm earned $7.25 earnings per share. The business's quarterly revenue was up 26.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were given a $0.5250 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is presently 7.16%.

Meta Platforms News Roundup

Here's some of the latest news about META:

• Positive Sentiment: JPMorgan named Meta its preferred internet stock, citing AI’s contribution to advertising performance and potential growth in Family of Apps ad revenue. Article: Meta Platforms Wins JPMorgan Backing
• Positive Sentiment: Meta launched its Muse AI agent on Apple Watch and Wear OS, adding voice and text access that could broaden use of its assistant. Article: Meta's AI agent Muse lands on Apple Watch
• Negative Sentiment: Meta’s Facebook was fined by Brazil’s electoral court over alleged failure to provide equal content during a presidential campaign, adding regulatory and reputational risk. Article: Meta Fined by Brazil Electoral Court

Analysts Set New Price Targets

META has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Meta Platforms in a research report on Thursday, August 27th. Bank of America boosted their price objective on Meta Platforms from $810.00 to $845.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Moffett Nathanson decreased their price objective on Meta Platforms from $800.00 to $740.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Citigroup raised their target price on shares of Meta Platforms from $895.00 to $905.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. Finally, Roth Capital cut their target price on shares of Meta Platforms from $820.00 to $750.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $833.12.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 946 shares of Meta Platforms stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $614.15, for a total value of $580,985.90. Following the sale, the chief operating officer owned 4,094 shares of the company's stock, valued at approximately $2,514,330.10. The trade was a 18.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 149,398 shares of company stock valued at $102,134,435 in the last three months. 13.42% of the stock is owned by company insiders.

Meta Platforms Company Profile

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta's business, with its platforms providing tools for businesses to promote products and services.

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