Teamwork Financial Advisors LLC Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

Teamwork Financial Advisors LLC lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,841 shares of the social networking company’s stock after selling 1,578 shares during the quarter. Meta Platforms comprises approximately 2.2% of Teamwork Financial Advisors LLC’s portfolio, making the stock its 17th largest position. Teamwork Financial Advisors LLC’s holdings in Meta Platforms were worth $15,937,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC raised its holdings in Meta Platforms by 1.2% in the 3rd quarter. Bleakley Financial Group LLC now owns 62,237 shares of the social networking company’s stock valued at $35,627,000 after buying an additional 738 shares during the period. Greenup Street Wealth Management LLC increased its position in shares of Meta Platforms by 10.6% during the third quarter. Greenup Street Wealth Management LLC now owns 867 shares of the social networking company’s stock valued at $496,000 after acquiring an additional 83 shares during the last quarter. LifeSteps Financial Inc. raised its stake in shares of Meta Platforms by 3.3% in the 3rd quarter. LifeSteps Financial Inc. now owns 930 shares of the social networking company’s stock valued at $532,000 after acquiring an additional 30 shares during the period. Riversedge Advisors LLC lifted its holdings in shares of Meta Platforms by 5.8% in the 3rd quarter. Riversedge Advisors LLC now owns 1,362 shares of the social networking company’s stock worth $780,000 after acquiring an additional 75 shares during the last quarter. Finally, Cumberland Advisors Inc. lifted its holdings in shares of Meta Platforms by 3.0% in the 3rd quarter. Cumberland Advisors Inc. now owns 8,450 shares of the social networking company’s stock worth $4,837,000 after acquiring an additional 250 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META opened at $576.93 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. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The stock has a market cap of $1.46 trillion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The firm has a fifty day moving average price of $545.36 and a 200 day moving average price of $508.09.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.23 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

META has been the topic of a number of research analyst reports. Pivotal Research initiated coverage on Meta Platforms in a research report on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price on the stock. Guggenheim boosted their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research report on Thursday, September 26th. Finally, Scotiabank started coverage on shares of Meta Platforms in a research report on Friday, October 11th. They set a “sector perform” rating and a $585.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $617.37.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,816 shares of company stock worth $132,421,828. 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.