Physician Wealth Advisors Inc. Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Physician Wealth Advisors Inc. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 39.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,400 shares of the social networking company’s stock after selling 923 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Meta Platforms were worth $821,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. Firethorn Wealth Partners LLC increased 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 valued at $615,000 after purchasing an additional 19 shares during the period. Provident Wealth Management LLC lifted 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 worth $358,000 after acquiring an additional 138 shares during the period. Wolff Wiese Magana LLC grew its stake in shares of Meta Platforms by 20.4% in 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 during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Meta Platforms by 94.5% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,443 shares of the social networking company’s stock valued at $826,000 after purchasing an additional 701 shares during the period. Finally, Amplius Wealth Advisors LLC raised its stake in shares of Meta Platforms by 1.3% during the third quarter. Amplius Wealth Advisors LLC now owns 2,679 shares of the social networking company’s stock worth $1,533,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $576.79 on Thursday. The stock has a fifty day moving average price of $544.01 and a 200 day moving average price of $507.60. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 33.13, a PEG ratio of 1.45 and a beta of 1.22. 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 (NASDAQ:META) last posted its quarterly earnings data 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 company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the company posted $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date 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 (DPR) is presently 11.49%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,911 shares of company stock valued at $131,887,905 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Guggenheim boosted their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Oppenheimer raised their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Tigress Financial raised their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Two 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $613.71.

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.