Integrity Financial Corp WA Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Integrity Financial Corp WA lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 21.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 489 shares of the social networking company’s stock after selling 131 shares during the quarter. Integrity Financial Corp WA’s holdings in Meta Platforms were worth $280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors increased its stake in shares of Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Jennison Associates LLC lifted its holdings in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC lifted its stake in shares of Meta Platforms by 3.1% in the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 3.1 %

NASDAQ META opened at $563.69 on Thursday. The stock has a market cap of $1.43 trillion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The stock has a 50 day simple moving average of $548.79 and a two-hundred day simple moving average of $509.61. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the firm earned $3.23 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the sale, the chief operating officer now directly owns 11,120 shares of the company’s stock, valued at $6,456,828. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,912 shares of company stock worth $132,027,612 over the last three months. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on META. Wolfe Research began coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Mizuho lifted their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Tigress Financial increased their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Rosenblatt Securities raised their price objective on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Citigroup boosted their target price on shares of Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $619.20.

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.