Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC cut its position in Meta Platforms, Inc. (NASDAQ:META) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,806 shares of the social networking company’s stock after selling 112 shares during the quarter. Thrive Wealth Management LLC’s holdings in Meta Platforms were worth $1,606,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Baldwin Investment Management LLC raised its holdings in shares of Meta Platforms by 30.1% in the fourth quarter. Baldwin Investment Management LLC now owns 1,425 shares of the social networking company’s stock valued at $504,000 after buying an additional 330 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in Meta Platforms by 1.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,280 shares of the social networking company’s stock worth $1,161,000 after acquiring an additional 34 shares during the period. Azimuth Capital Investment Management LLC grew its stake in shares of Meta Platforms by 0.5% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 74,973 shares of the social networking company’s stock valued at $26,537,000 after purchasing an additional 389 shares during the last quarter. CFS Investment Advisory Services LLC increased its holdings in shares of Meta Platforms by 35.7% in the fourth quarter. CFS Investment Advisory Services LLC now owns 2,150 shares of the social networking company’s stock valued at $761,000 after purchasing an additional 566 shares during the period. Finally, Kolinsky Wealth Management LLC raised its stake in shares of Meta Platforms by 22.7% during the fourth quarter. Kolinsky Wealth Management LLC now owns 3,031 shares of the social networking company’s stock worth $1,073,000 after purchasing an additional 560 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on META shares. DA Davidson assumed coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Pivotal Research began coverage on shares of Meta Platforms in a report on Tuesday. They issued a “buy” rating and a $780.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. UBS Group boosted their target price on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Loop Capital increased their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.08.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total transaction of $523,587.75. Following the completion of the transaction, the insider now owns 35,102 shares of the company’s stock, valued at $20,308,262.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75. Following the completion of the sale, the insider now directly owns 35,102 shares in the company, valued at approximately $20,308,262.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 300,228 shares of company stock worth $158,005,260. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META traded up $13.17 during trading on Friday, hitting $595.94. 14,170,546 shares of the company’s stock traded hands, compared to its average volume of 15,523,651. The business has a 50 day moving average of $524.47 and a 200-day moving average of $501.92. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $596.85. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.39 and a beta of 1.21. 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 (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.23 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 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.