Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 45.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,072 shares of the social networking company’s stock after selling 1,757 shares during the quarter. Fortune Financial Advisors LLC’s holdings in Meta Platforms were worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of META. Delos Wealth Advisors LLC boosted 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 during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its stake in shares of Meta Platforms by 122.2% in the second 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 period. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms during the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on META shares. Jefferies Financial Group raised their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price objective on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Susquehanna raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $621.63.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the transaction, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 251,230 shares of company stock worth $132,784,843 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 2.6 %

NASDAQ:META opened at $593.28 on Wednesday. The stock has a market cap of $1.50 trillion, a price-to-earnings ratio of 34.08, a PEG ratio of 1.42 and a beta of 1.22. 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 business has a fifty day moving average of $553.36 and a 200-day moving average of $511.61.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business 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. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 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.