MinichMacGregor Wealth Management LLC Sells 57 Shares of Meta Platforms, Inc. (NASDAQ:META)

MinichMacGregor Wealth Management LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 718 shares of the social networking company’s stock after selling 57 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Meta Platforms were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of META. China Universal Asset Management Co. Ltd. raised its stake in shares of Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Meta Platforms during the first quarter worth approximately $119,989,000. TFB Advisors LLC raised its stake in shares of Meta Platforms by 97.1% during the first quarter. TFB Advisors LLC now owns 3,367 shares of the social networking company’s stock worth $1,635,000 after acquiring an additional 1,659 shares in the last quarter. Avidian Wealth Solutions LLC raised its stake in shares of Meta Platforms by 1.1% during the first quarter. Avidian Wealth Solutions LLC now owns 9,161 shares of the social networking company’s stock worth $4,448,000 after acquiring an additional 103 shares in the last quarter. Finally, Catalina Capital Group LLC raised its stake in shares of Meta Platforms by 108.1% during the first quarter. Catalina Capital Group LLC now owns 8,975 shares of the social networking company’s stock worth $4,358,000 after acquiring an additional 4,662 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $589.34 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap of $1.49 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.24 and a beta of 1.22. The business has a 50-day simple moving average of $560.42 and a two-hundred day simple moving average of $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 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 return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company 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 of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Analysts Set New Price Targets

Several research analysts have commented on META shares. Roth Mkm lifted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Tigress Financial raised their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Wolfe Research initiated coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total value of $8,827,174.02. Following the completion of the sale, the chief executive officer now owns 72,473 shares of the company’s stock, valued at approximately $38,302,705.23. 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 ninety days, insiders sold 228,118 shares of company stock worth $121,237,935. 13.71% of the stock is owned by corporate insiders.

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.