WT Wealth Management Reduces Stock Position in Meta Platforms, Inc. (NASDAQ:META)

WT Wealth Management trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,445 shares of the social networking company’s stock after selling 1,093 shares during the period. Meta Platforms makes up 0.9% of WT Wealth Management’s investment portfolio, making the stock its 26th biggest holding. WT Wealth Management’s holdings in Meta Platforms were worth $3,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Valley Advisors LLC boosted its holdings in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC lifted its position in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares in the last quarter. Kozak & Associates Inc. increased its position in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after buying an additional 18 shares during the period. Finally, Firethorn Wealth Partners LLC raised its stake in Meta Platforms by 1.8% in the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after buying an additional 19 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of a number of research analyst reports. Sanford C. Bernstein upped their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. TD Securities upped their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Barclays raised their price objective on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Susquehanna upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, Bank of America lifted their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Trading Down 3.1 %

NASDAQ:META opened at $563.69 on Thursday. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The business has a fifty day moving average price of $548.79 and a 200-day moving average price of $509.61. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. 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 posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.23 earnings per share. Sell-side analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was 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 valued at $132,027,612 over the last three months. 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.