Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,053 shares of the social networking company’s stock after selling 99 shares during the quarter. Meta Platforms makes up 1.4% of Carolinas Wealth Consulting LLC’s holdings, making the stock its 19th biggest position. Carolinas Wealth Consulting LLC’s holdings in Meta Platforms were worth $7,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC lifted its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth $38,000. Finally, Ruedi Wealth Management Inc. raised its position in 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 period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $561.35 on Friday. 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 capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The business has a 50-day moving average of $506.33 and a 200 day moving average of $496.78. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $564.50.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.23 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the transaction, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $520.57, for a total value of $214,995.41. Following the transaction, the chief operating officer now owns 13,185 shares of the company’s stock, valued at $6,863,715.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 356,426 shares of company stock worth $185,053,425. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Susquehanna increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Citigroup upped their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $577.26.

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.