E&G Advisors LP Sells 295 Shares of Meta Platforms, Inc. (NASDAQ:META)

E&G Advisors LP trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,095 shares of the social networking company’s stock after selling 295 shares during the period. Meta Platforms makes up approximately 1.1% of E&G Advisors LP’s portfolio, making the stock its 18th biggest position. E&G Advisors LP’s holdings in Meta Platforms were worth $4,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in META. Central Valley Advisors LLC raised its holdings in 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 worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its holdings in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC raised its position 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 worth $1,595,000 after acquiring an additional 18 shares in the last quarter. Kozak & Associates Inc. raised its holdings in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after purchasing an additional 18 shares in the last quarter. Finally, Firethorn Wealth Partners LLC lifted its position in Meta Platforms by 1.8% during the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock valued at $615,000 after buying an additional 19 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $576.47 on Monday. The company has a market capitalization of $1.46 trillion, a P/E ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The firm’s 50 day simple moving average is $546.53 and its two-hundred day simple moving average is $508.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.23 EPS. Research analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. Barclays upped their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Mizuho raised their price objective on Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday. Oppenheimer boosted their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Guggenheim raised their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Roth Mkm upped their price target on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $617.37.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the sale, the insider now owns 33,292 shares in the company, valued at $19,641,281.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,816 shares of company stock worth $132,421,828. 13.71% of the stock is owned by corporate insiders.

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.