Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Asset Dedication LLC

Asset Dedication LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,619 shares of the social networking company’s stock after selling 2,308 shares during the quarter. Asset Dedication LLC’s holdings in Meta Platforms were worth $8,368,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC raised its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms in the 1st quarter valued at $44,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $584.83, for a total transaction of $241,534.79. Following the completion of the sale, the chief operating officer now directly owns 11,533 shares in the company, valued at approximately $6,744,844.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $584.83, for a total value of $241,534.79. Following the completion of the sale, the chief operating officer now directly owns 11,533 shares of the company’s stock, valued at $6,744,844.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total transaction of $533,850.45. Following the completion of the sale, the insider now directly owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,239 shares of company stock worth $132,033,148 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $586.27 on Wednesday. The company’s fifty day moving average is $542.26 and its two-hundred day moving average is $507.12. The company has a market cap of $1.49 trillion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $3.23 EPS. Equities analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business 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 was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on META. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. DA Davidson assumed coverage on Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target for the company. Evercore ISI raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Finally, Sanford C. Bernstein boosted their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $613.46.

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.