TKG Advisors LLC Sells 39 Shares of Meta Platforms, Inc. (NASDAQ:META)

TKG Advisors LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,165 shares of the social networking company’s stock after selling 39 shares during the period. TKG Advisors LLC’s holdings in Meta Platforms were worth $667,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC raised its stake in shares of Meta Platforms by 527.3% in the first 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 last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. raised 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 worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms in the third quarter worth about $49,000. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. Jefferies Financial Group boosted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JMP Securities boosted their price target on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued 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 $634.10.

Meta Platforms Price Performance

Shares of META opened at $591.70 on Friday. The firm has a market capitalization of $1.50 trillion, a PE ratio of 27.87, a PEG ratio of 1.24 and a beta of 1.22. The company’s 50-day moving average is $558.95 and its 200-day moving average is $514.71. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts forecast that Meta Platforms, Inc. will post 22.53 EPS 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 given a $0.50 dividend. 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 payout ratio is presently 9.42%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the transaction, the insider now directly owns 30,581 shares in the company, valued at approximately $17,360,833.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. 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 at the SEC website. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the sale, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. 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 228,118 shares of company stock worth $121,237,935. Corporate insiders own 13.71% of the company’s stock.

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.