Wealth Architects LLC Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Wealth Architects LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 17,443 shares of the social networking company’s stock after selling 168 shares during the period. Meta Platforms makes up 1.1% of Wealth Architects LLC’s portfolio, making the stock its 24th biggest holding. Wealth Architects LLC’s holdings in Meta Platforms were worth $9,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC grew its holdings in 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 during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. grew its stake 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 valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the transaction, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at approximately $38,302,705.23. 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 the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on 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 directly owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total value of $8,827,174.02. Following the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at approximately $38,302,705.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,118 shares of company stock valued at $121,237,935 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $589.34 on Friday. The company has a market cap of $1.49 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.27 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. The firm has a 50-day simple moving average of $561.78 and a 200 day simple moving average of $516.13. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

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

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Sanford C. Bernstein boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. 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. BMO Capital Markets increased their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Loop Capital lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Barclays increased their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.