Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Hudock Inc.

Hudock Inc. reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,345 shares of the social networking company’s stock after selling 25 shares during the period. Hudock Inc.’s holdings in Meta Platforms were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. increased 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 worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. purchased a new stake in Meta Platforms in the 3rd quarter worth $46,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Susquehanna upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. BMO Capital Markets upped their target price on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday, October 9th. Finally, Barclays upped their target price on shares of Meta Platforms from $520.00 to $550.00 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, three have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $621.63.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now directly owns 32,387 shares in the company, valued at approximately $18,612,808.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,817 shares of company stock worth $132,547,715. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.9 %

Shares of META opened at $578.16 on Tuesday. The company’s 50-day simple moving average is $552.03 and its 200-day simple moving average is $511.04. 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 $296.86 and a 1 year high of $602.95. The stock has a market capitalization of $1.47 trillion, a PE ratio of 33.21, a P/E/G ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm 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 firm earned $3.23 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

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.