Focused Wealth Management Inc Has $6.45 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Focused Wealth Management Inc increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,269 shares of the social networking company’s stock after acquiring an additional 29 shares during the quarter. Meta Platforms accounts for about 0.9% of Focused Wealth Management Inc’s holdings, making the stock its 21st largest position. Focused Wealth Management Inc’s holdings in Meta Platforms were worth $6,451,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in META. Delos Wealth Advisors LLC boosted its position 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 buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter worth approximately $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the transaction, the insider now directly owns 41,437 shares of the company’s stock, valued at $22,053,185.77. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,118 shares of company stock worth $121,237,935 in the last 90 days. 13.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on META shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Citigroup lifted their price objective on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 0.4 %

META opened at $589.34 on Friday. The company has a market capitalization of $1.49 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm’s fifty day moving average price is $560.42 and its two-hundred day moving average price is $515.25. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week 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 the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

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