Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Fiduciary Family Office LLC

Fiduciary Family Office LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 16.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,441 shares of the social networking company’s stock after selling 1,505 shares during the quarter. Meta Platforms comprises 1.4% of Fiduciary Family Office LLC’s investment portfolio, making the stock its 6th biggest position. Fiduciary Family Office LLC’s holdings in Meta Platforms were worth $4,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Central Valley Advisors LLC raised its holdings in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings 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 in the last quarter. Kozak & Associates Inc. raised its holdings in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after buying an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in Meta Platforms by 0.5% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James lifted their price target on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Truist Financial lifted their price target on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Down 0.4 %

Meta Platforms stock opened at $589.34 on Friday. The stock has a market cap of $1.49 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The stock has a fifty day moving average of $560.42 and a 200 day moving average of $515.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated 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 owns 11,990 shares in the company, valued at $6,315,852.40. 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 through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated 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 owns 11,990 shares in the company, valued at $6,315,852.40. 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 through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 228,118 shares of company stock worth $121,237,935 over the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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.