Future Financial Wealth Managment LLC Sells 250 Shares of Meta Platforms, Inc. (NASDAQ:META)

Future Financial Wealth Managment LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,556 shares of the social networking company’s stock after selling 250 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in Meta Platforms were worth $891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of META. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the 1st 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 bought a new stake in Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% during the 2nd 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. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Meta Platforms during the 1st quarter worth approximately $44,000. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 14,874 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $503.38, for a total transaction of $7,487,274.12. Following the completion of the sale, the chief executive officer now owns 135,442 shares in the company, valued at $68,178,793.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total transaction of $453,785.10. Following the completion of the sale, the insider now owns 36,035 shares in the company, valued at $18,068,669.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 14,874 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $503.38, for a total value of $7,487,274.12. Following the sale, the chief executive officer now owns 135,442 shares of the company’s stock, valued at $68,178,793.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 266,332 shares of company stock worth $139,981,833. 13.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wolfe Research initiated coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. TD Securities increased their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Evercore ISI increased their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Guggenheim increased their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday. Finally, Citigroup increased their price objective on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $601.08.

Meta Platforms Stock Performance

Shares of META stock opened at $592.89 on Wednesday. The business’s 50-day moving average price is $532.05 and its 200-day moving average price is $503.76. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The firm has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.39 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, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.23 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced 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 of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s payout ratio is currently 11.49%.

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.