Integrity Financial Corp WA Sells 131 Shares of Meta Platforms, Inc. (NASDAQ:META)

Integrity Financial Corp WA trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 21.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 489 shares of the social networking company’s stock after selling 131 shares during the quarter. Integrity Financial Corp WA’s holdings in Meta Platforms were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Waterway Wealth Management LLC lifted its stake in Meta Platforms by 146.1% during the 3rd quarter. Waterway Wealth Management LLC now owns 1,137 shares of the social networking company’s stock valued at $651,000 after acquiring an additional 675 shares during the period. Evernest Financial Advisors LLC grew its position in shares of Meta Platforms by 13.5% during the 3rd quarter. Evernest Financial Advisors LLC now owns 1,543 shares of the social networking company’s stock valued at $883,000 after acquiring an additional 184 shares during the period. Community Financial Services Group LLC increased its holdings in Meta Platforms by 3.2% in the 3rd quarter. Community Financial Services Group LLC now owns 13,852 shares of the social networking company’s stock worth $7,929,000 after acquiring an additional 426 shares in the last quarter. Venture Visionary Partners LLC raised its position in shares of Meta Platforms by 8.4% during the 3rd quarter. Venture Visionary Partners LLC now owns 43,503 shares of the social networking company’s stock worth $24,904,000 after purchasing an additional 3,363 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Meta Platforms by 2.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 72,122 shares of the social networking company’s stock valued at $41,285,000 after acquiring an additional 1,830 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $563.69 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $1.43 trillion, a PE ratio of 32.38, a P/E/G ratio of 1.45 and a beta of 1.22. The stock has a 50 day simple moving average of $548.79 and a 200 day simple moving average of $509.61. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared 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 was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the sale, the chief operating officer now owns 11,120 shares in the company, valued at $6,456,828. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the transaction, the chief operating officer now owns 11,120 shares in the company, valued at approximately $6,456,828. 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 is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,912 shares of company stock worth $132,027,612 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on META. Stifel Nicolaus raised their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. 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 research note on Monday, September 30th. Loop Capital upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.