Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the third quarter, HoldingsChannel.com reports. The fund owned 220,660 shares of the social networking company’s stock after selling 2,200 shares during the period. Meta Platforms makes up 1.1% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 28th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Meta Platforms were worth $125,286,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $46,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $567.16 on Friday. Meta Platforms, Inc. has a 52-week low of $308.33 and a 52-week high of $602.95. The company has a 50-day simple moving average of $555.99 and a 200 day simple moving average of $513.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. On average, research analysts predict that Meta Platforms, Inc. will post 21.47 EPS for the current year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on META shares. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Robert W. Baird raised their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday. Raymond James lifted their target price on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Two equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peggy Alford sold 1,052 shares of Meta Platforms stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total transaction of $503,908.00. Following the completion of the transaction, the director now directly owns 6,168 shares in the company, valued at approximately $2,954,472. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,993 shares of company stock worth $133,271,982 over the last three months. 13.71% of the stock is owned by insiders.

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.