Main Street Financial Solutions LLC Sells 2,664 Shares of Meta Platforms, Inc. (NASDAQ:META)

Main Street Financial Solutions LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,124 shares of the social networking company’s stock after selling 2,664 shares during the period. Main Street Financial Solutions LLC’s holdings in Meta Platforms were worth $2,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% during the first 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 acquired a new stake in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter valued at about $46,000. Finally, J.Safra Asset Management Corp bought a new stake in Meta Platforms during the first quarter worth about $47,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on META shares. Piper Sandler boosted their target price on Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Loop Capital raised their target price on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Raymond James raised their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Get Our Latest Report on META

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now owns 10,294 shares in the company, valued at $5,842,668.52. This represents a 3.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total transaction of $478,183.90. Following the completion of the transaction, the insider now directly owns 40,532 shares of the company’s stock, valued at $21,416,298.16. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock worth $84,533,106 in the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 4.0 %

META stock opened at $554.08 on Friday. The business has a 50-day moving average of $568.11 and a 200-day moving average of $520.60. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Meta Platforms Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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