Meta Platforms, Inc. (NASDAQ:META) Shares Sold by High Net Worth Advisory Group LLC

High Net Worth Advisory Group LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,918 shares of the social networking company’s stock after selling 156 shares during the quarter. High Net Worth Advisory Group LLC’s holdings in Meta Platforms were worth $2,243,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Scarborough Advisors LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $146,000. CCM Investment Advisers LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $16,131,000. Twin Focus Capital Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth approximately $286,000. Slagle Financial LLC boosted its stake in Meta Platforms by 96.5% during the fourth quarter. Slagle Financial LLC now owns 2,008 shares of the social networking company’s stock worth $711,000 after buying an additional 986 shares during the last quarter. Finally, True Vision MN LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $496,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of the business’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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The shares were 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 in the company, valued at $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 the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the transaction, the insider now directly owns 34,197 shares in the company, valued at $20,172,468.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,443 shares of company stock valued at $133,105,284 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on META. Raymond James boosted their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Finally, Pivotal Research started coverage on Meta Platforms in a research report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $609.71.

Meta Platforms Stock Up 1.0 %

Meta Platforms stock opened at $589.95 on Monday. The stock has a market cap of $1.50 trillion, a PE ratio of 33.89, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock’s fifty day moving average is $538.12 and its two-hundred day moving average is $505.67. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $3.23 EPS. On average, sell-side analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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. 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 11.49%.

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.