Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,009 shares of the social networking company’s stock after selling 1,265 shares during the period. Meta Platforms makes up approximately 1.7% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 6th largest holding. Patton Albertson Miller Group LLC’s holdings in Meta Platforms were worth $12,599,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% during 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 during the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the third quarter worth about $49,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,656 shares of company stock valued at $61,933,867. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on META. Citigroup lifted their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company decreased their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Stock Up 1.5 %

Shares of META opened at $573.54 on Wednesday. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a market capitalization of $1.45 trillion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The stock has a fifty day simple moving average of $573.38 and a two-hundred day simple moving average of $525.35. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

About Meta Platforms

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.