Avaii Wealth Management LLC Sells 9,124 Shares of Meta Platforms, Inc. $META

Avaii Wealth Management LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 83.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,749 shares of the social networking company’s stock after selling 9,124 shares during the period. Avaii Wealth Management LLC’s holdings in Meta Platforms were worth $1,284,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Goldstone Financial Group LLC grew its holdings in shares of Meta Platforms by 44.4% in the 3rd quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock valued at $2,756,000 after acquiring an additional 1,153 shares in the last quarter. Spirepoint Private Client LLC boosted its position in Meta Platforms by 2.7% during the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after purchasing an additional 109 shares during the last quarter. Diversify Advisory Services LLC grew its stake in shares of Meta Platforms by 10.4% in the second quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock valued at $43,790,000 after buying an additional 5,224 shares in the last quarter. CW Advisors LLC grew its stake in shares of Meta Platforms by 27.8% in the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock valued at $130,467,000 after buying an additional 38,432 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Meta Platforms by 11.0% during the second quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after buying an additional 20,912 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer owned 2,415 shares in the company, valued at $1,432,843.65. This trade represents a 82.88% 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, Director Robert M. Kimmitt sold 600 shares of Meta Platforms stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the transaction, the director directly owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 41,038 shares of company stock valued at $25,533,240. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $658.79 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a market cap of $1.66 trillion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 1.29 and a beta of 1.29. The stock’s fifty day moving average price is $645.45 and its two-hundred day moving average price is $704.88. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter in the previous year, the business posted $6.03 earnings per share. Meta Platforms’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s dividend payout ratio is presently 9.28%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Bank of America cut their price target on shares of Meta Platforms from $900.00 to $810.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. JPMorgan Chase & Co. lowered their price target on Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Royal Bank Of Canada dropped their price objective on Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and set a $870.00 target price (down from $900.00) on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, Mizuho decreased their target price on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $822.22.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.