Tanager Wealth Management LLP Sells 2,398 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tanager Wealth Management LLP trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,979 shares of the social networking company’s stock after selling 2,398 shares during the period. Meta Platforms accounts for 0.8% of Tanager Wealth Management LLP’s portfolio, making the stock its 26th largest holding. Tanager Wealth Management LLP’s holdings in Meta Platforms were worth $5,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of META. Gradient Investments LLC raised its holdings in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after purchasing an additional 5,953 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after acquiring an additional 748,076 shares during the last quarter. ERn Financial LLC boosted its holdings in Meta Platforms by 59.0% during the first quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after buying an additional 613 shares in the last quarter. Stanley Laman Group Ltd. boosted its holdings in Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after buying an additional 352 shares in the last quarter. Finally, Lincoln National Corp boosted its holdings in Meta Platforms by 7.8% during the first quarter. Lincoln National Corp now owns 34,790 shares of the social networking company’s stock worth $16,894,000 after buying an additional 2,504 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $521.48, for a total transaction of $214,849.76. Following the completion of the sale, the chief operating officer now owns 5,147 shares in the company, valued at $2,684,057.56. This represents a 0.00 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on META. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Mizuho increased their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Guggenheim raised their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Barclays raised their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Truist Financial raised their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $621.63.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $573.25 on Friday. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 32.93, a PEG ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company’s fifty day moving average is $551.05 and its two-hundred day moving average is $510.76. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

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

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.