Teamwork Financial Advisors LLC Sells 1,578 Shares of Meta Platforms, Inc. (NASDAQ:META)

Teamwork Financial Advisors LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,841 shares of the social networking company’s stock after selling 1,578 shares during the quarter. Meta Platforms comprises about 2.2% of Teamwork Financial Advisors LLC’s portfolio, making the stock its 17th biggest position. Teamwork Financial Advisors LLC’s holdings in Meta Platforms were worth $15,937,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise lifted its holdings in Meta Platforms by 38.0% during the first quarter. Banque Cantonale Vaudoise now owns 31,822 shares of the social networking company’s stock worth $15,452,000 after buying an additional 8,762 shares during the period. Walker Asset Management LLC bought a new stake in Meta Platforms during the first quarter valued at about $222,000. Wedmont Private Capital grew its stake in Meta Platforms by 3.9% in the first quarter. Wedmont Private Capital now owns 32,320 shares of the social networking company’s stock valued at $16,706,000 after purchasing an additional 1,210 shares during the last quarter. Grandview Asset Management LLC raised its holdings in Meta Platforms by 0.3% in the first quarter. Grandview Asset Management LLC now owns 8,549 shares of the social networking company’s stock worth $4,151,000 after purchasing an additional 24 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its position in shares of Meta Platforms by 2.0% during the first quarter. KMG Fiduciary Partners LLC now owns 44,137 shares of the social networking company’s stock valued at $21,432,000 after buying an additional 880 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total transaction of $443,269.00. Following the sale, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total value of $443,269.00. Following the transaction, the insider now directly owns 35,130 shares of the company’s stock, valued at $17,206,674. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,816 shares of company stock valued at $132,421,828. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $576.93 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.46 trillion, a PE ratio of 33.14, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The company has a fifty day moving average of $545.36 and a two-hundred day moving average of $508.09.

Meta Platforms (NASDAQ:META) last released its quarterly 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. 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 the consensus estimate of $38.26 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on META shares. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday. Bank of America raised their price objective on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Roth Mkm upped their target price on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Oppenheimer raised their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have given 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 currently has an average rating of “Moderate Buy” and a consensus price target of $617.37.

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.