Liberty Wealth Management LLC Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Liberty Wealth Management LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 92.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,455 shares of the social networking company’s stock after selling 56,238 shares during the period. Liberty Wealth Management LLC’s holdings in Meta Platforms were worth $2,550,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Delos Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. boosted 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 acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at $46,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $47,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. JMP Securities upped their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Tigress Financial boosted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Susquehanna boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 target price 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 issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the completion of the transaction, the chief executive officer now directly owns 28,838 shares of the company’s stock, valued at approximately $15,377,575.12. The trade was a 0.00 % decrease in their position. 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 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.8 %

Shares of META 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. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a 50-day moving average price of $564.48 and a 200 day moving average price of $518.29. The firm has a market capitalization 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 announced 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 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%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is presently 9.42%.

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.