WealthTrust Asset Management LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

WealthTrust Asset Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,709 shares of the social networking company’s stock after selling 893 shares during the period. Meta Platforms makes up 2.1% of WealthTrust Asset Management LLC’s portfolio, making the stock its 12th biggest position. WealthTrust Asset Management LLC’s holdings in Meta Platforms were worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management lifted its holdings in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. boosted its position in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares in the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the second quarter worth about $595,152,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at approximately $19,848,320.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 346,666 shares of company stock valued at $180,145,414. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Cantor Fitzgerald started coverage on shares of Meta Platforms in a report on Thursday, September 5th. They issued an “overweight” rating and a $660.00 price target on the stock. Guggenheim raised their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Barclays boosted their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Stock Performance

META stock opened at $561.35 on Monday. The company has a 50-day simple moving average of $507.58 and a 200 day simple moving average of $497.27. The company has a market capitalization of $1.42 trillion, a P/E ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $564.50.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the business posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be given a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is presently 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.