Lutz Financial Services LLC Has $461,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Lutz Financial Services LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 806 shares of the social networking company’s stock after selling 19 shares during the period. Lutz Financial Services LLC’s holdings in Meta Platforms were worth $461,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Meta Platforms by 45.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 347,378 shares of the social networking company’s stock worth $168,624,000 after buying an additional 108,555 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Meta Platforms in the first quarter valued at about $8,877,000. Proficio Capital Partners LLC grew its position in Meta Platforms by 6.3% in the first quarter. Proficio Capital Partners LLC now owns 9,561 shares of the social networking company’s stock valued at $4,642,000 after acquiring an additional 566 shares during the last quarter. Finally, Peoples Bank OH raised its stake in Meta Platforms by 1.2% during the first quarter. Peoples Bank OH now owns 3,674 shares of the social networking company’s stock worth $1,784,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on META shares. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Piper Sandler increased their price target on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Morgan Stanley boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

NASDAQ META opened at $591.70 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.50 trillion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The firm’s 50-day simple moving average is $558.95 and its two-hundred day simple moving average is $514.71.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is 9.42%.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 228,118 shares of company stock valued at $121,237,935. Corporate insiders own 13.71% of the company’s stock.

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.