ODonnell Financial Services LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

ODonnell Financial Services LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,016 shares of the social networking company’s stock after selling 27 shares during the quarter. ODonnell Financial Services LLC’s holdings in Meta Platforms were worth $582,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. KeyCorp upped their price target on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. TD Securities boosted their target price on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. BMO Capital Markets raised their price target on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer raised their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $567.78 on Friday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The firm’s 50 day moving average is $549.53 and its two-hundred day moving average is $509.99. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 32.61, a P/E/G ratio of 1.45 and a beta of 1.22.

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

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76. Following the transaction, the chief operating officer now owns 5,147 shares of the company’s stock, valued at $2,684,057.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.48, for a total transaction of $214,849.76. Following the completion of the sale, the chief operating officer now owns 5,147 shares in the company, valued at approximately $2,684,057.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,817 shares of company stock valued at $132,547,715 in the last three months. 13.71% of the stock is currently owned by company 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.