Wharton Business Group LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,424 shares of the social networking company’s stock after selling 63 shares during the quarter. Wharton Business Group LLC’s holdings in Meta Platforms were worth $1,388,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. POM Investment Strategies LLC bought a new stake in Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. raised its stake 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 in the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at $49,000. Finally, NewSquare Capital LLC lifted its stake in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
META has been the subject of a number of recent analyst reports. Susquehanna upped their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Loop Capital boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Monness Crespi & Hardt boosted their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, JMP Securities raised their price objective on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $634.10.
Insider Activity
In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,958 shares of company stock worth $101,181,747. 13.71% of the stock is currently owned by insiders.
Meta Platforms Price Performance
Shares of NASDAQ META opened at $565.52 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company’s 50-day moving average price is $571.30 and its 200 day moving average price is $523.03. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.23 and a beta of 1.22.
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 the consensus estimate of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 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.
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