Twelve Points Wealth Management LLC Sells 95 Shares of Meta Platforms, Inc. (NASDAQ:META)

Twelve Points Wealth Management LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 380 shares of the social networking company’s stock after selling 95 shares during the period. Twelve Points Wealth Management LLC’s holdings in Meta Platforms were worth $218,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Meta Platforms by 25.2% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 5,528 shares of the social networking company’s stock worth $3,164,000 after acquiring an additional 1,113 shares in the last quarter. Firethorn Wealth Partners LLC grew its stake in Meta Platforms by 1.8% in the third quarter. Firethorn Wealth Partners LLC now owns 1,075 shares of the social networking company’s stock worth $615,000 after purchasing an additional 19 shares in the last quarter. Provident Wealth Management LLC raised its position in Meta Platforms by 28.3% during the 3rd quarter. Provident Wealth Management LLC now owns 626 shares of the social networking company’s stock valued at $358,000 after purchasing an additional 138 shares in the last quarter. Wolff Wiese Magana LLC raised its position in Meta Platforms by 20.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 2,613 shares of the social networking company’s stock valued at $1,496,000 after purchasing an additional 442 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Meta Platforms by 94.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,443 shares of the social networking company’s stock worth $826,000 after buying an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on META shares. Mizuho upped their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America increased their price objective on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Roth Mkm boosted their price objective on shares of Meta Platforms from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Morgan Stanley upped their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Sanford C. Bernstein boosted their price target on 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 issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $617.37.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the sale, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now owns 33,292 shares in the company, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,816 shares of company stock worth $132,421,828 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $576.93 on Friday. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.14, a PEG ratio of 1.45 and a beta of 1.22. The stock has a 50-day moving average of $545.36 and a 200 day moving average of $508.09. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Meta Platforms Company 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.