Meta Platforms, Inc. (NASDAQ:META) Shares Sold by REDW Wealth LLC

REDW Wealth LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,290 shares of the social networking company’s stock after selling 311 shares during the period. REDW Wealth LLC’s holdings in Meta Platforms were worth $738,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Delos Wealth Advisors LLC lifted its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. grew its holdings in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. acquired a new stake in Meta Platforms in the 3rd quarter valued at approximately $46,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 2.1 %

NASDAQ META opened at $572.43 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The firm’s fifty day simple moving average is $556.78 and its 200-day simple moving average is $513.67. The company has a market capitalization of $1.45 trillion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the transaction, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the completion of the sale, the chief operating officer now owns 10,294 shares of the company’s stock, valued at approximately $5,842,668.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,919 shares of company stock valued at $129,296,067 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. UBS Group increased their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Evercore ISI boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Raymond James upped their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

About Meta Platforms

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.