Silverlake Wealth Management LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

Silverlake Wealth Management LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,742 shares of the social networking company’s stock after selling 44 shares during the period. Silverlake Wealth Management LLC’s holdings in Meta Platforms were worth $997,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Delos Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META traded up $6.12 during midday trading on Friday, hitting $589.95. 8,587,051 shares of the company traded hands, compared to its average volume of 15,361,877. The stock has a 50-day moving average of $538.12 and a 200-day moving average of $505.52. The firm has a market cap of $1.49 trillion, a P/E ratio of 30.11, a PEG ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business earned $3.23 EPS. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 10.21%.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction 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 owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 1,712 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total value of $859,886.24. Following the completion of the transaction, the chief executive officer now directly owns 129,888 shares in the company, valued at $65,238,845.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 252,443 shares of company stock worth $133,105,284. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on META. Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Roth Mkm raised their price target on Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Friday. Finally, Robert W. Baird upped their price objective on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $609.71.

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.