Brickley Wealth Management Decreases Stake in Meta Platforms, Inc. (NASDAQ:META)

Brickley Wealth Management decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,245 shares of the social networking company’s stock after selling 21 shares during the quarter. Meta Platforms makes up about 0.1% of Brickley Wealth Management’s portfolio, making the stock its 29th biggest holding. Brickley Wealth Management’s holdings in Meta Platforms were worth $713,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in META. International Assets Investment Management LLC grew its stake in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Capital Research Global Investors lifted its stake in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the 2nd quarter worth $595,152,000. Vanguard Group Inc. boosted its position in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Meta Platforms by 30.0% in the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after purchasing an additional 788,131 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.8 %

NASDAQ:META opened at $580.00 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50-day simple moving average of $564.48 and a 200 day simple moving average of $518.29. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The business 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 predict that Meta Platforms, Inc. will post 22.53 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. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Tigress Financial boosted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Morgan Stanley raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Two investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the transaction, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, 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 value of $8,906,174.48. Following the completion of the transaction, the chief executive officer now owns 28,838 shares of the company’s stock, valued at approximately $15,377,575.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Friday, August 16th. The shares were sold at an average price of $532.21, for a total value of $481,650.05. Following the transaction, the insider now owns 41,437 shares in the company, valued at $22,053,185.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,807 shares of company stock valued at $93,851,617 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.