Secured Retirement Advisors LLC Reduces Holdings in Meta Platforms, Inc. $META

Secured Retirement Advisors LLC cut its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 22.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,526 shares of the social networking company’s stock after selling 996 shares during the quarter. Meta Platforms accounts for 1.4% of Secured Retirement Advisors LLC’s portfolio, making the stock its 13th largest position. Secured Retirement Advisors LLC’s holdings in Meta Platforms were worth $2,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC increased its position in shares of Meta Platforms by 2.0% during the third quarter. Granite Bay Wealth Management LLC now owns 1,601 shares of the social networking company’s stock worth $1,176,000 after acquiring an additional 32 shares during the last quarter. Johnson & White Wealth Management LLC increased its holdings in Meta Platforms by 33.4% during the 3rd quarter. Johnson & White Wealth Management LLC now owns 798 shares of the social networking company’s stock worth $586,000 after purchasing an additional 200 shares during the last quarter. Financial Council LLC raised its position in shares of Meta Platforms by 5.7% in the 3rd quarter. Financial Council LLC now owns 1,546 shares of the social networking company’s stock valued at $1,135,000 after purchasing an additional 84 shares in the last quarter. Whitener Capital Management Inc. boosted its stake in shares of Meta Platforms by 2.2% during the 3rd quarter. Whitener Capital Management Inc. now owns 5,159 shares of the social networking company’s stock valued at $3,789,000 after buying an additional 112 shares during the last quarter. Finally, Independent Wealth Network Inc. increased its stake in shares of Meta Platforms by 1.4% in the third quarter. Independent Wealth Network Inc. now owns 3,233 shares of the social networking company’s stock worth $2,374,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.7%

Shares of NASDAQ:META opened at $658.69 on Tuesday. The company’s 50-day moving average price is $653.34 and its 200 day moving average price is $706.14. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a market cap of $1.66 trillion, a PE ratio of 29.09, a P/E/G ratio of 1.37 and a beta of 1.28. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter in the previous year, the company posted $6.03 earnings per share. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Insider Activity at Meta Platforms

In other news, Director Robert M. Kimmitt sold 580 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $646.00, for a total value of $374,680.00. Following the completion of the sale, the director directly owned 6,167 shares of the company’s stock, valued at approximately $3,983,882. This represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $659.38, for a total transaction of $342,218.22. Following the transaction, the insider owned 29,177 shares in the company, valued at $19,238,730.26. This represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,038 shares of company stock worth $25,587,621 over the last ninety days. 13.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

META has been the subject of several research analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $900.00 target price on shares of Meta Platforms in a research report on Thursday, October 30th. Piper Sandler cut their price objective on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Jefferies Financial Group decreased their target price on Meta Platforms from $950.00 to $910.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Robert W. Baird dropped their price target on Meta Platforms from $820.00 to $815.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $820.22.

Read Our Latest Stock Analysis on Meta Platforms

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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