Meta Platforms, Inc. (NASDAQ:META) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 25.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,430 shares of the social networking company’s stock after selling 1,543 shares during the quarter. Meta Platforms accounts for approximately 1.4% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 14th largest holding. IVC Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Delos Wealth Advisors LLC lifted 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 period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth about $46,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $591.80 on Thursday. The stock’s fifty day moving average is $554.49 and its two-hundred day moving average is $512.18. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $296.86 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on META. TD Securities lifted their price target on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. JMP Securities lifted their price target on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research report on Thursday, September 26th. Oppenheimer lifted their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Raymond James lifted their price target on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird lifted their price target on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $621.63.

Check Out Our Latest Report on Meta Platforms

Insider Activity

In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. 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 hyperlink. In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. 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 hyperlink. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The shares were 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 directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,818 shares of company stock valued at $132,569,993 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Profile

(Free Report)

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.

See Also

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

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