Geometric Wealth Advisors Sells 115 Shares of Meta Platforms, Inc. (NASDAQ:META)

Geometric Wealth Advisors cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,407 shares of the social networking company’s stock after selling 115 shares during the quarter. Meta Platforms accounts for about 0.1% of Geometric Wealth Advisors’ portfolio, making the stock its 27th biggest holding. Geometric Wealth Advisors’ holdings in Meta Platforms were worth $805,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% during 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 during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of 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 buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter valued at $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms during the third quarter worth $49,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 4.1 %

META opened at $567.58 on Friday. The company has a market cap of $1.44 trillion, a P/E ratio of 32.60, a PEG ratio of 1.42 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $555.21 and its 200-day moving average is $512.56. Meta Platforms, Inc. has a 1-year low of $296.86 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Equities research analysts predict that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. KeyCorp raised their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $634.37.

Insider Activity

In related news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the completion of the sale, the insider now directly owns 31,482 shares in the company, valued at $18,262,708.20. 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. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,573 shares of company stock valued at $133,019,910. 13.71% of the stock is currently owned by corporate insiders.

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.