1858 Wealth Management LLC Sells 140 Shares of Meta Platforms, Inc. (NASDAQ:META)

1858 Wealth Management LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,088 shares of the social networking company’s stock after selling 140 shares during the period. Meta Platforms makes up 3.3% of 1858 Wealth Management LLC’s portfolio, making the stock its 4th biggest position. 1858 Wealth Management LLC’s holdings in Meta Platforms were worth $4,057,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of META. Keystone Wealth Services LLC grew its position in Meta Platforms by 25.3% in the 1st quarter. Keystone Wealth Services LLC now owns 1,624 shares of the social networking company’s stock valued at $789,000 after buying an additional 328 shares in the last quarter. Central Valley Advisors LLC grew its position in Meta Platforms by 1.1% in the 1st quarter. Central Valley Advisors LLC now owns 5,817 shares of the social networking company’s stock valued at $2,825,000 after buying an additional 64 shares in the last quarter. Annex Advisory Services LLC grew its position in Meta Platforms by 345.5% in the 1st quarter. Annex Advisory Services LLC now owns 51,430 shares of the social networking company’s stock valued at $24,973,000 after buying an additional 39,885 shares in the last quarter. Gilman Hill Asset Management LLC bought a new position in Meta Platforms in the 1st quarter valued at about $4,539,000. Finally, Factory Mutual Insurance Co. grew its position in Meta Platforms by 2.2% in the 1st quarter. Factory Mutual Insurance Co. now owns 330,590 shares of the social networking company’s stock valued at $160,528,000 after buying an additional 7,200 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on META. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Loop Capital raised their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Barclays raised their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. TD Securities raised their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $619.20.

Meta Platforms Trading Up 1.2 %

NASDAQ:META opened at $582.01 on Wednesday. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $547.72 and its 200-day moving average is $509.22.

Meta Platforms (NASDAQ:META) last released its quarterly 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 company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the firm posted $3.23 earnings per share. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the sale, the chief operating officer now owns 11,120 shares in the company, valued at approximately $6,456,828. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the sale, the chief operating officer now owns 11,120 shares in the company, valued at approximately $6,456,828. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was 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 owns 33,292 shares in the company, valued at approximately $19,641,281.24. 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 250,324 shares of company stock valued at $132,218,368 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

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.