Lutz Financial Services LLC Sells 19 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lutz Financial Services LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 806 shares of the social networking company’s stock after selling 19 shares during the quarter. Lutz Financial Services LLC’s holdings in Meta Platforms were worth $461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% in 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 in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the 2nd 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 period. Richardson Financial Services Inc. boosted its position in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter valued at about $46,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the sale, the insider now owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the transaction, the insider now owns 41,437 shares in the company, valued at approximately $22,053,185.77. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total value of $8,827,174.02. Following the completion of the sale, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,118 shares of company stock worth $121,237,935 over the last ninety days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Roth Mkm boosted their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. 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 research note on Thursday, October 31st. 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, Wells Fargo & Company cut their price target on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Up 3.4 %

Meta Platforms stock opened at $591.70 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 company’s 50-day moving average is $558.95 and its 200-day moving average is $514.71. The firm has a market capitalization of $1.50 trillion, a PE ratio of 27.87, a P/E/G ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.