Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Von Berge Wealth Management Group LLC

Von Berge Wealth Management Group LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,096 shares of the social networking company’s stock after selling 57 shares during the quarter. Meta Platforms comprises approximately 1.2% of Von Berge Wealth Management Group LLC’s portfolio, making the stock its 18th biggest position. Von Berge Wealth Management Group LLC’s holdings in Meta Platforms were worth $2,343,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lindenwold Advisors INC increased its stake in shares of Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC grew its holdings in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its holdings in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC increased its position in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the period. Finally, Kozak & Associates Inc. raised its stake in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after acquiring an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 620 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the sale, the chief operating officer now directly owns 19,992 shares in the company, valued at approximately $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 14,746 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.53, for a total transaction of $8,162,353.38. The disclosure for this sale can be found here. Insiders sold 118,218 shares of company stock worth $65,819,414 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $565.11 on Tuesday. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $573.38 and a 200 day simple moving average of $525.35.

Meta Platforms (NASDAQ:META) last issued its 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 company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on META shares. 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. Evercore ISI raised their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Loop Capital boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $634.71.

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.