FMB Wealth Management reduced its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280 shares of the social networking company’s stock after selling 29 shares during the quarter. FMB Wealth Management’s holdings in Meta Platforms were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of META. Central Valley Advisors LLC increased its stake in Meta Platforms by 0.3% in the third 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 during the period. Cherrydale Wealth Management LLC increased its stake in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC increased its stake in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares during the period. Kozak & Associates Inc. increased its stake 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 during the period. Finally, Capital Advisors Ltd. LLC increased its stake in Meta Platforms by 0.5% in the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after purchasing an additional 18 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on META. Barclays raised their price target on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup raised their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. DA Davidson began coverage on Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Monness Crespi & Hardt raised their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus raised their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $634.10.
Meta Platforms Price Performance
META opened at $580.00 on Thursday. The stock’s 50-day moving average price is $564.48 and its 200 day moving average price is $518.29. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.29 and a beta of 1.22.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.
Insiders Place Their Bets
In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the sale, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the completion of the transaction, the chief executive officer now owns 55,019 shares in the company, valued at approximately $29,110,002.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,807 shares of company stock worth $93,851,617 in the last quarter. 13.71% of the stock is owned by company insiders.
About Meta Platforms
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.
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