Meta Platforms, Inc. (NASDAQ:META) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,297 shares of the social networking company’s stock after selling 114 shares during the period. FDx Advisors Inc.’s holdings in Meta Platforms were worth $1,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lynx Investment Advisory increased its position in Meta Platforms by 17.5% during the third quarter. Lynx Investment Advisory now owns 1,563 shares of the social networking company’s stock worth $895,000 after buying an additional 233 shares during the period. Laffer Tengler Investments Inc. boosted its stake in shares of Meta Platforms by 11.4% in the third quarter. Laffer Tengler Investments Inc. now owns 734 shares of the social networking company’s stock valued at $420,000 after buying an additional 75 shares in the last quarter. tru Independence LLC boosted its stake in shares of Meta Platforms by 6.3% in the third quarter. tru Independence LLC now owns 2,668 shares of the social networking company’s stock valued at $1,527,000 after buying an additional 157 shares in the last quarter. Jupiter Wealth Management LLC boosted its position in Meta Platforms by 9.8% during the third quarter. Jupiter Wealth Management LLC now owns 6,726 shares of the social networking company’s stock worth $3,850,000 after purchasing an additional 600 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Meta Platforms by 171.4% during the third quarter. Venturi Wealth Management LLC now owns 43,844 shares of the social networking company’s stock worth $25,098,000 after purchasing an additional 27,691 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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. Over the last 90 days, insiders sold 158,200 shares of company stock valued at $84,533,106. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.5 %

Shares of META stock opened at $577.16 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The stock has a market cap of $1.46 trillion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The business’s fifty day moving average is $565.83 and its 200-day moving average is $518.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

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

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on META shares. Wedbush reissued an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. JMP Securities boosted their price target on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley increased their target price on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.