1858 Wealth Management LLC Sells 140 Shares of Meta Platforms, Inc. (NASDAQ:META)

1858 Wealth Management LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,088 shares of the social networking company’s stock after selling 140 shares during the period. Meta Platforms comprises 3.3% of 1858 Wealth Management LLC’s portfolio, making the stock its 4th largest holding. 1858 Wealth Management LLC’s holdings in Meta Platforms were worth $4,057,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Central Valley Advisors LLC boosted its stake in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC lifted its holdings in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the period. Kozak & Associates Inc. lifted its holdings in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC lifted its holdings in shares of Meta Platforms by 1.8% during the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock valued at $615,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the sale, the chief operating officer now directly owns 5,559 shares of the company’s stock, valued at $2,573,817. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,324 shares of company stock valued at $132,218,368 in the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 1.2 %

NASDAQ META opened at $582.01 on Wednesday. The company has a market cap of $1.48 trillion, a PE ratio of 33.43, a PEG ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The stock has a 50 day moving average of $547.72 and a 200-day moving average of $509.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Analysts Set New Price Targets

A number of brokerages have issued reports on META. TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Mizuho lifted their price objective on Meta Platforms from $600.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Raymond James lifted their price objective on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, BMO Capital Markets lifted their price target on Meta Platforms from $475.00 to $525.00 and gave the company a “market perform” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $619.20.

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.