Physician Wealth Advisors Inc. Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Physician Wealth Advisors Inc. decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 39.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,400 shares of the social networking company’s stock after selling 923 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Meta Platforms were worth $821,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bath Savings Trust Co acquired a new position in shares of Meta Platforms during the 1st quarter worth approximately $218,000. jvl associates llc raised its position in Meta Platforms by 6.9% during the first quarter. jvl associates llc now owns 777 shares of the social networking company’s stock worth $377,000 after acquiring an additional 50 shares during the period. Emprise Bank purchased a new position in Meta Platforms during the first quarter valued at $1,801,000. Neville Rodie & Shaw Inc. increased its stake in shares of Meta Platforms by 13.8% during the first quarter. Neville Rodie & Shaw Inc. now owns 15,055 shares of the social networking company’s stock worth $7,310,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Abner Herrman & Brock LLC increased its stake in shares of Meta Platforms by 39.2% during the first quarter. Abner Herrman & Brock LLC now owns 15,990 shares of the social networking company’s stock worth $7,764,000 after purchasing an additional 4,499 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 1.6 %

Meta Platforms stock opened at $576.79 on Thursday. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 33.13, a P/E/G ratio of 1.45 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, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The stock’s fifty day simple moving average is $544.01 and its 200-day simple moving average is $507.60.

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 the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total value of $443,269.00. Following the sale, the insider now directly owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the sale, the insider now directly owns 35,130 shares in the company, valued at $17,206,674. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,911 shares of company stock worth $131,887,905 over the last 90 days. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. Stifel Nicolaus raised their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday. Guggenheim lifted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Citigroup upped their target price on shares of Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Bank of America raised their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, JMP Securities increased their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $613.71.

Meta Platforms Company 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.