Ruedi Wealth Management Inc. Has $33,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Ruedi Wealth Management Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 27.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58 shares of the social networking company’s stock after selling 22 shares during the period. Ruedi Wealth Management Inc.’s holdings in Meta Platforms were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ERn Financial LLC lifted its holdings in Meta Platforms by 59.0% in the 1st quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after purchasing an additional 613 shares during the last quarter. Shulman DeMeo Asset Management LLC raised its holdings in Meta Platforms by 4.6% during the 1st quarter. Shulman DeMeo Asset Management LLC now owns 5,233 shares of the social networking company’s stock worth $2,541,000 after purchasing an additional 229 shares during the last quarter. Hurlow Wealth Management Group Inc. acquired a new position in Meta Platforms in the first quarter valued at approximately $243,000. Thrive Wealth Management LLC boosted its stake in Meta Platforms by 6.6% during the 1st quarter. Thrive Wealth Management LLC now owns 2,829 shares of the social networking company’s stock worth $1,374,000 after acquiring an additional 176 shares during the last quarter. Finally, Lincoln Capital Corp lifted its stake in Meta Platforms by 9.5% in the first quarter. Lincoln Capital Corp now owns 1,205 shares of the social networking company’s stock valued at $585,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $573.25 on Friday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The firm has a market cap of $1.45 trillion, a PE ratio of 32.93, a P/E/G ratio of 1.45 and a beta of 1.22. The firm has a 50 day simple moving average of $551.05 and a 200-day simple moving average of $510.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

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

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on META shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Guggenheim increased their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Susquehanna raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Citigroup upped their target price on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $621.63.

Insider Activity

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $521.48, for a total value of $214,849.76. Following the sale, the chief operating officer now directly owns 5,147 shares in the company, valued at $2,684,057.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.48, for a total value of $214,849.76. Following the completion of the transaction, the chief operating officer now directly owns 5,147 shares in the company, valued at approximately $2,684,057.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is currently owned by corporate 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.