Meta Platforms, Inc. (NASDAQ:META) Shares Sold by ODonnell Financial Services LLC

ODonnell Financial Services LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,016 shares of the social networking company’s stock after selling 27 shares during the quarter. ODonnell Financial Services LLC’s holdings in Meta Platforms were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Central Valley Advisors LLC lifted its holdings in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC increased its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC raised its stake in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares during the period. Kozak & Associates Inc. boosted its holdings in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the last quarter. Finally, Firethorn Wealth Partners LLC grew its stake in shares of Meta Platforms by 1.8% during the 3rd quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock valued at $615,000 after buying an additional 19 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the transaction, the insider now owns 32,387 shares in the company, valued at approximately $18,612,808.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the completion of the sale, the insider now directly owns 32,387 shares of the company’s stock, valued at $18,612,808.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the transaction, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,817 shares of company stock worth $132,547,715 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $567.78 on Friday. The business has a 50 day moving average price of $549.53 and a two-hundred day moving average price of $509.99. 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 company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95.

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

Meta Platforms Dividend Announcement

The firm also recently announced 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 was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Analysts Set New Price Targets

A number of research firms have recently commented on META. Evercore ISI raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. TD Securities boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Bank of America raised their target price on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus 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.