Meta Platforms, Inc. (NASDAQ:META) Shares Sold by FWG Holdings LLC

FWG Holdings LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the third quarter, HoldingsChannel.com reports. The fund owned 2,748 shares of the social networking company’s stock after selling 35 shares during the period. Meta Platforms makes up approximately 0.8% of FWG Holdings LLC’s holdings, making the stock its 22nd biggest position. FWG Holdings LLC’s holdings in Meta Platforms were worth $1,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% during the second 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. purchased a new stake in Meta Platforms in the 3rd quarter worth about $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter worth about $49,000. Finally, NewSquare Capital LLC grew its stake in Meta Platforms by 221.9% during 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 in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META stock opened at $563.09 on Friday. 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’s 50 day moving average is $572.05 and its 200-day moving average is $523.31. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly 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. The business had revenue of $40.59 billion for 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%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the 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 completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 620 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $345,340.00. Following the transaction, the chief operating officer now owns 19,992 shares in the company, valued at $11,135,544. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,843 shares of company stock worth $92,083,554. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on META shares. TD Cowen increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Wedbush reissued an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

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.