Meta Platforms, Inc. (NASDAQ:META) Holdings Lowered by Sigma Planning Corp

Sigma Planning Corp lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.5% during the third quarter, HoldingsChannel reports. The firm owned 30,947 shares of the social networking company’s stock after selling 1,463 shares during the period. Meta Platforms accounts for approximately 0.5% of Sigma Planning Corp’s holdings, making the stock its 27th biggest position. Sigma Planning Corp’s holdings in Meta Platforms were worth $17,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the third quarter worth approximately $46,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Meta Platforms during the first quarter worth approximately $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold a total of 175,807 shares of company stock valued at $93,851,617 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.8 %

META stock opened at $580.00 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $564.48 and its 200-day moving average is $518.29. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The firm has a market cap of $1.46 trillion, a P/E ratio of 27.32, a P/E/G ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. TD Cowen increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. KeyCorp upped their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Bank of America upped their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.