One Wealth Management Investment & Advisory Services LLC Sells 2,126 Shares of Meta Platforms, Inc. (NASDAQ:META)

One Wealth Management Investment & Advisory Services LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,471 shares of the social networking company's stock after selling 2,126 shares during the quarter. Meta Platforms makes up about 6.5% of One Wealth Management Investment & Advisory Services LLC's holdings, making the stock its 6th biggest position. One Wealth Management Investment & Advisory Services LLC's holdings in Meta Platforms were worth $3,704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV grew its position in shares of Meta Platforms by 16.5% in the 3rd quarter. KBC Group NV now owns 1,976,357 shares of the social networking company's stock valued at $1,131,347,000 after acquiring an additional 280,266 shares during the period. Huntington National Bank boosted its stake in Meta Platforms by 6.4% during the third quarter. Huntington National Bank now owns 297,700 shares of the social networking company's stock valued at $170,415,000 after buying an additional 17,965 shares during the period. Summit Asset Management LLC raised its position in shares of Meta Platforms by 10.7% during the 3rd quarter. Summit Asset Management LLC now owns 796 shares of the social networking company's stock valued at $456,000 after buying an additional 77 shares in the last quarter. Bouvel Investment Partners LLC lifted its position in Meta Platforms by 0.4% in the third quarter. Bouvel Investment Partners LLC now owns 9,489 shares of the social networking company's stock valued at $5,432,000 after purchasing an additional 40 shares during the last quarter. Finally, ROI Financial Advisors LLC bought a new position in shares of Meta Platforms in the third quarter worth approximately $311,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Wells Fargo & Company lowered their price target on Meta Platforms from $652.00 to $641.00 and set an "overweight" rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Meta Platforms from $640.00 to $660.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt increased their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four 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.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $634.10.

Meta Platforms Trading Up 0.3 %

Shares of Meta Platforms stock traded up $1.64 during trading on Monday, reaching $555.72. The company's stock had a trading volume of 10,358,277 shares, compared to its average volume of 15,043,996. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average is $568.11 and its two-hundred day moving average is $521.17. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms's payout ratio is currently 9.42%.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total value of $8,906,174.48. Following the completion of the transaction, the chief executive officer now directly owns 28,838 shares of the company's stock, valued at approximately $15,377,575.12. The trade was a 36.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,498 shares of company stock worth $75,732,154 over the last ninety days. Corporate insiders own 13.71% of the company's stock.

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.