Cahaba Wealth Management Inc. Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cahaba Wealth Management Inc. lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 860 shares of the social networking company’s stock after selling 58 shares during the period. Cahaba Wealth Management Inc.’s holdings in Meta Platforms were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of META. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total transaction of $533,922.85. Following the sale, the insider now owns 33,292 shares in the company, valued at $19,641,281.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares in the company, valued at $19,641,281.24. This represents a 0.00 % decrease in their position. 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 Thursday, July 25th. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00. Following the sale, the chief operating officer now directly owns 5,559 shares of the company’s stock, valued at $2,573,817. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 250,816 shares of company stock valued at $132,421,828. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $576.47 on Monday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $546.53 and its 200 day simple moving average is $508.77. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The firm has a market capitalization of $1.46 trillion, a PE ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the firm earned $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on META shares. Evercore ISI increased their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Pivotal Research assumed coverage on Meta Platforms in a research report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price on the stock. Monness Crespi & Hardt increased their target price on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Mizuho lifted their target price on Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wolfe Research assumed coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $617.37.

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.