WealthPLAN Partners LLC Has $4.77 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

WealthPLAN Partners LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,333 shares of the social networking company’s stock after selling 1,228 shares during the quarter. WealthPLAN Partners LLC’s holdings in Meta Platforms were worth $4,770,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the third quarter valued at $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the sale, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,200 shares of company stock worth $84,533,106. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $554.08 on Friday. The company has a market capitalization of $1.40 trillion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a 50-day simple moving average of $568.11 and a 200 day simple moving average of $519.97.

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, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. BMO Capital Markets increased their price target on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Citigroup raised their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp upped their target price on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird raised their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Company 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.