Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,651 shares of the social networking company’s stock after selling 1,693 shares during the quarter. Meta Platforms makes up approximately 1.5% of Pursue Wealth Partners LLC’s holdings, making the stock its 22nd largest holding. Pursue Wealth Partners LLC’s holdings in Meta Platforms were worth $2,662,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in META. 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 valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter valued at $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at approximately $49,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on META shares. Truist Financial boosted their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wedbush restated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Jefferies Financial Group upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. BMO Capital Markets increased their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Barclays raised their price target on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Price Performance

Shares of META stock opened at $567.16 on Monday. The firm’s 50 day moving average price is $555.99 and its two-hundred day moving average price is $513.25. The stock has a market cap of $1.43 trillion, a PE ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $308.33 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.83 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 21.84 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 6,534 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the transaction, the chief executive officer now owns 116,108 shares in the company, valued at $58,639,184.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 6,534 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the sale, the chief executive officer now directly owns 116,108 shares of the company’s stock, valued at $58,639,184.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 251,092 shares of company stock worth $132,865,496. 13.71% of the stock is owned by company insiders.

Meta Platforms Company 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.