One Wealth Management Investment & Advisory Services LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

One Wealth Management Investment & Advisory Services LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 24.7% during the third quarter, Holdings Channel.com reports. The firm owned 6,471 shares of the social networking company’s stock after selling 2,126 shares during the period. Meta Platforms accounts for approximately 6.5% of One Wealth Management Investment & Advisory Services LLC’s holdings, making the stock its 6th largest position. One Wealth Management Investment & Advisory Services LLC’s holdings in Meta Platforms were worth $3,704,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its stake 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 last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the third quarter worth approximately $49,000. Finally, NewSquare Capital LLC lifted its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after buying an additional 71 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the completion of the sale, the chief executive officer now owns 28,838 shares in the company, valued at $15,377,575.12. The trade was a 36.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total value of $478,183.90. Following the transaction, the insider now owns 40,532 shares in the company, valued at approximately $21,416,298.16. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,498 shares of company stock valued at $75,732,154. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on META shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Trading Down 4.0 %

Meta Platforms stock opened at $554.08 on Monday. The stock has a 50-day simple moving average of $568.11 and a 200 day simple moving average of $521.17. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a PEG ratio of 1.23 and a beta of 1.22. 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, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 analyst estimates of $40.21 billion. Analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.