Impact Partnership Wealth LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Impact Partnership Wealth LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,944 shares of the social networking company’s stock after selling 132 shares during the period. Impact Partnership Wealth LLC’s holdings in Meta Platforms were worth $1,113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Capital Research Global Investors raised its stake in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Jennison Associates LLC lifted its holdings in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP bought a new stake in Meta Platforms during the 2nd quarter valued at $595,152,000. Finally, Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Truist Financial raised their price objective on Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wolfe Research started coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. Roth Mkm lifted their price objective on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. UBS Group increased their target price on shares of Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $621.63.

Meta Platforms Stock Performance

META opened at $573.25 on Friday. The stock has a market cap of $1.45 trillion, a P/E ratio of 29.26, a P/E/G ratio of 1.42 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a fifty day moving average price of $551.05 and a 200 day moving average price of $510.72. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the company posted $3.23 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 10.21%.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the completion of the transaction, the insider now owns 32,387 shares in the company, valued at $18,612,808.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,817 shares of company stock worth $132,547,715 over the last three months. 13.71% of the stock is currently owned by corporate 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.