Meta Platforms, Inc. $META Shares Sold by AMJ Financial Wealth Management

AMJ Financial Wealth Management lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,275 shares of the social networking company’s stock after selling 1,254 shares during the quarter. Meta Platforms accounts for about 3.4% of AMJ Financial Wealth Management’s portfolio, making the stock its 2nd biggest position. AMJ Financial Wealth Management’s holdings in Meta Platforms were worth $13,489,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bare Financial Services Inc acquired a new position in shares of Meta Platforms in the second quarter valued at approximately $30,000. Evergreen Private Wealth LLC raised its holdings in shares of Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after acquiring an additional 38 shares during the period. Briaud Financial Planning Inc bought a new stake in Meta Platforms in the 2nd quarter valued at $42,000. WFA Asset Management Corp boosted its stake in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares during the period. Finally, Maseco LLP acquired a new position in Meta Platforms in the 2nd quarter worth $54,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CAO Aaron Anderson sold 726 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total transaction of $429,501.60. Following the transaction, the chief accounting officer directly owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. The trade was a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 2,610 shares of the stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $1,590,690.60. Following the completion of the sale, the chief operating officer owned 9,784 shares in the company, valued at approximately $5,962,956.64. This trade represents a 21.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 40,923 shares of company stock valued at $25,887,293. 13.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on META. Mizuho cut their price target on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Wall Street Zen cut Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. KeyCorp reduced their price target on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a research note on Monday, December 1st. Finally, Erste Group Bank lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Four analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $819.43.

Meta Platforms Price Performance

NASDAQ:META opened at $666.80 on Tuesday. The stock has a market capitalization of $1.68 trillion, a PE ratio of 29.45, a P/E/G ratio of 1.41 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The firm has a fifty day simple moving average of $671.62 and a 200 day simple moving average of $707.23. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The firm had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter last year, the company posted $6.03 earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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.