Altus Wealth Management LLC Sells 225 Shares of Meta Platforms, Inc. (NASDAQ:META)

Altus Wealth Management LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 30.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 517 shares of the social networking company’s stock after selling 225 shares during the period. Altus Wealth Management LLC’s holdings in Meta Platforms were worth $296,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Central Valley Advisors LLC increased its position in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC grew its stake in Meta Platforms by 0.5% in 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 purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC increased its position 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 purchasing an additional 18 shares during the last quarter. Kozak & Associates Inc. raised its stake 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 worth $1,099,000 after purchasing an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC raised its position in Meta Platforms by 1.8% in the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several recent research reports. Susquehanna lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. BMO Capital Markets lifted their price target on Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a research report on Wednesday, October 9th. Pivotal Research assumed coverage on Meta Platforms in a report on Tuesday, October 1st. They set a “buy” rating and a $780.00 price objective for the company. Loop Capital raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, UBS Group increased their price target on shares of Meta Platforms from $635.00 to $690.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $617.37.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the sale, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the sale, the insider now owns 33,292 shares in the company, valued at $19,641,281.24. 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, 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 transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,816 shares of company stock worth $132,421,828 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ:META opened at $576.47 on Friday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. 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 50-day moving average is $546.53 and its 200 day moving average is $508.68. The company has a market cap of $1.46 trillion, a PE ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22.

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

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid 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 yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.