Aviso Wealth Management Sells 111 Shares of Meta Platforms, Inc. (NASDAQ:META)

Aviso Wealth Management reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,003 shares of the social networking company’s stock after selling 111 shares during the period. Meta Platforms makes up approximately 4.2% of Aviso Wealth Management’s holdings, making the stock its 5th largest holding. Aviso Wealth Management’s holdings in Meta Platforms were worth $7,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of META. Baird Financial Group Inc. lifted its position in Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares in the last quarter. California State Teachers Retirement System lifted its position in Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Voyager Global Management LP lifted its position in Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares in the last quarter. Gradient Investments LLC increased its holdings in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after purchasing an additional 5,953 shares during the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after purchasing an additional 748,076 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Citigroup lifted their price objective on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Raymond James lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Finally, KeyCorp lifted their price objective on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $591.23.

Meta Platforms Trading Down 0.1 %

Shares of META stock opened at $567.36 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $577.40. The stock has a fifty day moving average of $516.19 and a two-hundred day moving average of $499.60. The firm has a market capitalization of $1.44 trillion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $512.00, for a total value of $210,944.00. Following the sale, the chief operating officer now directly owns 6,795 shares in the company, valued at $3,479,040. The disclosure for this sale can be found here. Insiders sold a total of 342,358 shares of company stock worth $179,431,101 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

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.