J.W. Cole Advisors Inc. cut its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,650 shares of the social networking company’s stock after selling 447 shares during the period. Meta Platforms comprises approximately 0.6% of J.W. Cole Advisors Inc.’s holdings, making the stock its 23rd largest holding. J.W. Cole Advisors Inc.’s holdings in Meta Platforms were worth $15,255,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of META. Central Valley Advisors LLC lifted its position in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC lifted its holdings in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its stake in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. grew its holdings in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in shares of Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Price Performance
Shares of META opened at $593.28 on Wednesday. The company has a market cap of $1.50 trillion, a price-to-earnings ratio of 34.08, a PEG ratio of 1.42 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $553.36 and its 200 day simple moving average is $511.61. Meta Platforms, Inc. has a 1-year low of $296.86 and a 1-year high of $602.95.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is 11.49%.
Insider Activity
In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold a total of 251,230 shares of company stock valued at $132,784,843 over the last three months. Insiders own 13.71% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on META shares. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 9th. Finally, DA Davidson initiated coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Two investment 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 stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $621.63.
Check Out Our Latest Stock Report on Meta Platforms
About Meta Platforms
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.
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