Consolidated Portfolio Review Corp Has $1.36 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Consolidated Portfolio Review Corp lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,372 shares of the social networking company’s stock after selling 287 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Meta Platforms were worth $1,358,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Delos Wealth Advisors LLC raised 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 valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying 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 valued at $41,000 after buying an additional 43 shares during the period. Finally, Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $46,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 251,230 shares of company stock valued at $132,784,843 over the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of META opened at $593.28 on Wednesday. The firm has a market cap of $1.50 trillion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $296.86 and a 52-week high of $602.95. The business’s 50 day moving average price is $553.36 and its two-hundred day moving average price is $511.61. 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 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 company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the company earned $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is 11.49%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price target on Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Tigress Financial lifted their target price on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Finally, Monness Crespi & Hardt increased their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $621.63.

About Meta Platforms

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.