Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Wealthstream Advisors Inc.

Wealthstream Advisors Inc. lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,982 shares of the social networking company’s stock after selling 43 shares during the period. Meta Platforms makes up 0.3% of Wealthstream Advisors Inc.’s investment portfolio, making the stock its 27th largest holding. Wealthstream Advisors Inc.’s holdings in Meta Platforms were worth $1,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Zions Bancorporation N.A. lifted its holdings in shares of Meta Platforms by 13.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 29,347 shares of the social networking company’s stock valued at $16,799,000 after buying an additional 3,575 shares during the period. KBC Group NV lifted its holdings in Meta Platforms by 16.5% in the third quarter. KBC Group NV now owns 1,976,357 shares of the social networking company’s stock valued at $1,131,347,000 after acquiring an additional 280,266 shares during the period. Huntington National Bank boosted its position in shares of Meta Platforms by 6.4% during the 3rd quarter. Huntington National Bank now owns 297,700 shares of the social networking company’s stock worth $170,415,000 after purchasing an additional 17,965 shares in the last quarter. Summit Asset Management LLC grew its stake in shares of Meta Platforms by 10.7% during the 3rd quarter. Summit Asset Management LLC now owns 796 shares of the social networking company’s stock worth $456,000 after purchasing an additional 77 shares during the period. Finally, Bouvel Investment Partners LLC increased its holdings in shares of Meta Platforms by 0.4% in the 3rd quarter. Bouvel Investment Partners LLC now owns 9,489 shares of the social networking company’s stock valued at $5,432,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on META. Citigroup upped their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America boosted their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial raised their price target on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two investment 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total transaction of $478,183.90. Following the sale, the insider now owns 40,532 shares of the company’s stock, valued at $21,416,298.16. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the completion of the transaction, the chief executive officer now directly owns 28,838 shares of the company’s stock, valued at approximately $15,377,575.12. The trade was a 36.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,498 shares of company stock worth $75,732,154. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 4.0 %

Shares of META stock opened at $554.08 on Monday. 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, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The firm’s 50 day moving average price is $568.11 and its two-hundred day moving average price is $521.17. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.