Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 45.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,072 shares of the social networking company’s stock after selling 1,757 shares during the period. Fortune Financial Advisors LLC’s holdings in Meta Platforms were worth $1,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Roberts Wealth Advisors LLC acquired a new position in shares of Meta Platforms in the first quarter valued at approximately $308,000. LVW Advisors LLC lifted its holdings in shares of Meta Platforms by 13.2% during the first quarter. LVW Advisors LLC now owns 7,164 shares of the social networking company’s stock worth $3,479,000 after purchasing an additional 834 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Meta Platforms in the 1st quarter valued at $234,000. Pettinga Financial Advisors LLC acquired a new position in Meta Platforms in the 1st quarter valued at $249,000. Finally, Chapin Davis Inc. raised its position in Meta Platforms by 23.7% during the 1st quarter. Chapin Davis Inc. now owns 10,918 shares of the social networking company’s stock worth $5,302,000 after buying an additional 2,091 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Guggenheim lifted their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Robert W. Baird increased their target price on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Monness Crespi & Hardt lifted their price target on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, JMP Securities upped their price objective on Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $621.63.

Meta Platforms Trading Up 2.6 %

Shares of Meta Platforms stock opened at $593.28 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $296.86 and a fifty-two week high of $602.95. The business’s fifty day moving average is $553.36 and its two-hundred day moving average is $511.61. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.50 trillion, a PE ratio of 34.08, a P/E/G ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the business posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 21.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the transaction, the chief operating officer now owns 10,707 shares in the company, valued at $6,147,531.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total value of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares in the company, valued at $18,612,808.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the transaction, the chief operating officer now directly owns 10,707 shares in the company, valued at $6,147,531.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,230 shares of company stock worth $132,784,843. 13.71% of the stock is owned by company 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.