Meta Platforms, Inc. (NASDAQ:META) Position Cut by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 412 shares of the social networking company’s stock after selling 20 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Meta Platforms were worth $236,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the third quarter valued at about $46,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Meta Platforms during the first quarter valued at about $47,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the transaction, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of the firm’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 value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $532.21, for a total value of $481,650.05. Following the completion of the sale, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. 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 sold 228,118 shares of company stock worth $121,237,935. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. DA Davidson initiated coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm lifted their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Raymond James lifted their target price on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. Finally, 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. Two 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’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Stock Down 0.4 %

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 PEG ratio of 1.27 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The stock has a 50-day simple moving average of $561.78 and a 200 day simple moving average of $516.13.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal 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 issued a dividend of $0.50 per share. 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.