GeoWealth Management LLC Sells 1,166 Shares of Meta Platforms, Inc. $META

GeoWealth Management LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,729 shares of the social networking company’s stock after selling 1,166 shares during the period. GeoWealth Management LLC’s holdings in Meta Platforms were worth $12,348,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Bare Financial Services Inc purchased a new position in shares of Meta Platforms in the second quarter worth $30,000. Evergreen Private Wealth LLC lifted its stake in Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of Meta Platforms during the 2nd quarter valued at about $42,000. Knuff & Co LLC purchased a new position in shares of Meta Platforms during the second quarter valued at about $44,000. Finally, WFA Asset Management Corp increased its holdings in shares of Meta Platforms by 42.6% in the second 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 last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on META shares. Wedbush reissued an “outperform” rating and set a $920.00 price target on shares of Meta Platforms in a research note on Thursday, October 30th. Monness Crespi & Hardt lowered their target price on Meta Platforms from $860.00 to $808.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Roth Capital restated a “buy” rating on shares of Meta Platforms in a research report on Thursday, October 30th. DA Davidson set a $825.00 price objective on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $821.63.

Meta Platforms Trading Down 1.0%

Shares of META opened at $650.13 on Thursday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company has a market cap of $1.64 trillion, a P/E ratio of 28.72, a P/E/G ratio of 1.38 and a beta of 1.28. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $668.73 and its 200-day simple moving average is $707.04.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the previous year, the company earned $6.03 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current 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 paid 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 is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer owned 9,784 shares in the company, valued at $5,962,956.64. This trade represents a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total value of $6,935,793.90. Following the sale, the chief technology officer owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,440 shares of company stock worth $26,233,492 over the last quarter. 13.61% of the stock is owned by insiders.

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.