TrueWealth Advisors LLC Has $618,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

TrueWealth Advisors LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,080 shares of the social networking company’s stock after acquiring an additional 133 shares during the period. TrueWealth Advisors LLC’s holdings in Meta Platforms were worth $618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Valley Advisors LLC increased its position in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares during the last quarter. Kozak & Associates Inc. raised its position in shares of Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at $19,197,043.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 33,018 shares of the firm’s 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 243,919 shares of company stock worth $129,296,067. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. JMP Securities boosted their target price on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, TD Cowen lifted 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. Two equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 0.1 %

Shares of META stock opened at $572.05 on Thursday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a 50 day simple moving average of $557.85 and a two-hundred day simple moving average of $514.31. The stock has a market cap of $1.45 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.26 and a beta of 1.22. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. On average, research analysts expect that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

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.