Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 26.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,651 shares of the social networking company’s stock after selling 1,693 shares during the period. Meta Platforms comprises about 1.5% of Pursue Wealth Partners LLC’s portfolio, making the stock its 22nd biggest holding. Pursue Wealth Partners LLC’s holdings in Meta Platforms were worth $2,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Financial Network Inc. increased its stake in shares of Meta Platforms by 2.7% during the third quarter. Focus Financial Network Inc. now owns 9,521 shares of the social networking company’s stock worth $5,450,000 after purchasing an additional 247 shares in the last quarter. Hartford Financial Management Inc. lifted its holdings in Meta Platforms by 3.4% in the 3rd quarter. Hartford Financial Management Inc. now owns 4,666 shares of the social networking company’s stock valued at $2,671,000 after purchasing an additional 154 shares in the last quarter. Stephens Inc. AR boosted its stake in Meta Platforms by 8.0% during the 3rd quarter. Stephens Inc. AR now owns 77,493 shares of the social networking company’s stock worth $44,360,000 after purchasing an additional 5,760 shares during the last quarter. Summit Wealth Partners LLC grew its holdings in shares of Meta Platforms by 19.3% during the third quarter. Summit Wealth Partners LLC now owns 797 shares of the social networking company’s stock worth $456,000 after buying an additional 129 shares in the last quarter. Finally, LCM Capital Management Inc raised its position in shares of Meta Platforms by 3.2% in the third quarter. LCM Capital Management Inc now owns 2,552 shares of the social networking company’s stock valued at $1,461,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $567.16 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $555.99 and its 200 day moving average price is $513.25. Meta Platforms, Inc. has a 52 week low of $308.33 and a 52 week high of $602.95. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.36 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, research analysts forecast that Meta Platforms, Inc. will post 21.84 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Ratings Changes

Several research analysts have recently weighed in on META shares. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Evercore ISI increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price objective on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 6,534 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $505.04, for a total transaction of $3,299,931.36. Following the sale, the chief executive officer now owns 116,108 shares in the company, valued at $58,639,184.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 6,534 shares of Meta Platforms stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the completion of the transaction, the chief executive officer now directly owns 116,108 shares in the company, valued at $58,639,184.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,092 shares of company stock valued at $132,865,496. Company 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.