Aletheian Wealth Advisors LLC Sells 4,144 Shares of Meta Platforms, Inc. (NASDAQ:META)

Aletheian Wealth Advisors LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 68.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,891 shares of the social networking company’s stock after selling 4,144 shares during the period. Aletheian Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of META. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% in the first 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 acquired a new position in Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. boosted 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 worth $40,000 after purchasing an additional 44 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter worth $46,000. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms 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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 251,993 shares of company stock worth $133,271,982 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $567.16 on Friday. The stock has a market cap of $1.43 trillion, a P/E ratio of 26.72, a PEG ratio of 1.44 and a beta of 1.22. The stock has a 50 day simple moving average of $555.99 and a 200 day simple moving average of $513.03. 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 1-year low of $308.33 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly 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 business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. Research analysts anticipate that Meta Platforms, Inc. will post 21.47 earnings per share for the current 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 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 yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Raymond James boosted their price objective on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. Truist Financial boosted their price objective on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Pivotal Research boosted their price objective on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho upped their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wolfe Research initiated coverage on Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.