Fiduciary Planning LLC Sells 274 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fiduciary Planning LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 18.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,175 shares of the social networking company’s stock after selling 274 shares during the quarter. Fiduciary Planning LLC’s holdings in Meta Platforms were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vantage Financial Partners LLC lifted its holdings in Meta Platforms by 3.2% in the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares during the period. Concentrum Wealth Management increased its position in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the period. Aveo Capital Partners LLC raised its holdings in Meta Platforms by 45.7% in the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC lifted its position in shares of Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after purchasing an additional 1,594 shares during the period. Finally, Rollins Financial boosted its stake in shares of Meta Platforms by 7.5% during the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

META opened at $525.60 on Friday. The company’s 50 day moving average is $505.44 and its 200 day moving average is $495.07. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.33 trillion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.23 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.23 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

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, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,054 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $501.05, for a total value of $1,029,156.70. Following the completion of the sale, the chief executive officer now owns 253,000 shares in the company, valued at approximately $126,765,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the sale, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The disclosure for this sale can be found here. Insiders have sold 357,574 shares of company stock valued at $185,587,773 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on META shares. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Wednesday, July 24th. Raymond James upped their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Cantor Fitzgerald began coverage on Meta Platforms in a research report on Thursday, September 5th. They set an “overweight” rating and a $660.00 price objective for the company. Finally, Sanford C. Bernstein upped their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $577.26.

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.