Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Trimmed by White Wing Wealth Management

White Wing Wealth Management reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 374 shares of the social networking company’s stock after selling 41 shares during the quarter. Meta Platforms comprises 0.2% of White Wing Wealth Management’s portfolio, making the stock its 27th largest holding. White Wing Wealth Management’s holdings in Meta Platforms were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dynamic Advisor Solutions LLC raised its holdings in shares of Meta Platforms by 4.3% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 36,544 shares of the social networking company’s stock worth $20,919,000 after purchasing an additional 1,507 shares in the last quarter. Axiom Advisory LLC grew its position in Meta Platforms by 1.6% in the third quarter. Axiom Advisory LLC now owns 38,080 shares of the social networking company’s stock worth $21,799,000 after buying an additional 613 shares during the last quarter. Alpha Cubed Investments LLC increased its holdings in shares of Meta Platforms by 13.7% in the third quarter. Alpha Cubed Investments LLC now owns 123,716 shares of the social networking company’s stock valued at $70,820,000 after buying an additional 14,890 shares in the last quarter. Cardinal Point Capital Management ULC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $347,000. Finally, Callan Family Office LLC raised its position in shares of Meta Platforms by 75.7% during the third quarter. Callan Family Office LLC now owns 1,692 shares of the social networking company’s stock worth $969,000 after purchasing an additional 729 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total value of $8,916,696.74. Following the sale, the chief executive officer now owns 151,918 shares of the company’s stock, valued at approximately $81,104,462.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $578.55, for a total transaction of $523,587.75. Following the completion of the sale, the insider now owns 35,102 shares of the company’s stock, valued at approximately $20,308,262.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the sale, the chief executive officer now owns 151,918 shares in the company, valued at $81,104,462.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 282,621 shares of company stock valued at $148,657,449. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $588.27 on Tuesday. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market cap of $1.49 trillion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The stock has a 50-day moving average of $529.45 and a 200-day moving average of $503.17.

Meta Platforms (NASDAQ:META) last released 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 business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the company earned $3.23 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on META. Oppenheimer upped their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Bank of America upped their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Piper Sandler lifted their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Monness Crespi & Hardt increased their target price on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, UBS Group lifted their price target on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $601.08.

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.