Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lessened by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,648 shares of the social networking company’s stock after selling 104 shares during the period. Etesian Wealth Advisors Inc.’s holdings in Meta Platforms were worth $1,516,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cooper Financial Group increased its holdings in Meta Platforms by 7.7% in the first quarter. Cooper Financial Group now owns 4,336 shares of the social networking company’s stock worth $2,105,000 after buying an additional 311 shares during the last quarter. Catalyst Private Wealth LLC increased its stake in shares of Meta Platforms by 31.8% during the 1st quarter. Catalyst Private Wealth LLC now owns 6,920 shares of the social networking company’s stock worth $3,360,000 after purchasing an additional 1,669 shares during the last quarter. GenWealth Group Inc. increased its stake in shares of Meta Platforms by 4.5% during the 1st quarter. GenWealth Group Inc. now owns 1,160 shares of the social networking company’s stock worth $563,000 after purchasing an additional 50 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 3.8% in the 1st quarter. Opal Wealth Advisors LLC now owns 2,349 shares of the social networking company’s stock valued at $1,141,000 after purchasing an additional 85 shares during the last quarter. Finally, San Luis Wealth Advisors LLC boosted its holdings in Meta Platforms by 8.0% in the first quarter. San Luis Wealth Advisors LLC now owns 1,424 shares of the social networking company’s stock worth $692,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $576.47 on Monday. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. The stock has a fifty day moving average price of $546.53 and a two-hundred day moving average price of $508.77. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

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

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction 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 completion of the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was 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 other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the transaction, the chief operating officer now owns 5,559 shares in the company, valued at approximately $2,573,817. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,816 shares of company stock valued at $132,421,828 in the last three months. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on META shares. UBS Group raised their target price on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a report on Monday, October 7th. Stifel Nicolaus boosted their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. TD Securities upped their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Wolfe Research assumed coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $617.37.

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.