Meta Platforms, Inc. (NASDAQ:META) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,847 shares of the social networking company’s stock after selling 840 shares during the quarter. Meta Platforms comprises 1.3% of SeaCrest Wealth Management LLC’s holdings, making the stock its 12th largest holding. SeaCrest Wealth Management LLC’s holdings in Meta Platforms were worth $11,934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gradient Investments LLC lifted its holdings in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock worth $36,600,000 after acquiring an additional 5,953 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Meta Platforms by 14.0% during the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after purchasing an additional 748,076 shares in the last quarter. ERn Financial LLC boosted its position in shares of Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after buying an additional 613 shares during the period. Stanley Laman Group Ltd. grew its stake in shares of Meta Platforms by 26.5% in the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after buying an additional 352 shares in the last quarter. Finally, Lincoln National Corp raised its holdings in shares of Meta Platforms by 7.8% in the 1st quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock valued at $16,894,000 after buying an additional 2,504 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. DA Davidson began coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Monness Crespi & Hardt increased their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Wolfe Research began coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. Finally, Evercore ISI boosted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $613.71.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,911 shares of company stock worth $131,887,905. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 1.6 %

META stock opened at $576.79 on Thursday. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a fifty day moving average price of $544.01 and a 200 day moving average price of $507.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company earned $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

Meta Platforms 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.