Tyche Wealth Partners LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Tyche Wealth Partners LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 42.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,572 shares of the social networking company’s stock after selling 1,893 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Meta Platforms were worth $1,472,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,993 shares of company stock valued at $133,271,982. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on META. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Securities lifted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Pivotal Research boosted their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays boosted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Citigroup upped their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Price Performance

Shares of META stock opened at $567.16 on Friday. Meta Platforms, Inc. has a twelve month low of $308.33 and a twelve month high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. The firm has a fifty day simple moving average of $555.99 and a 200-day simple moving average of $513.03.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.47 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid 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 0.35%. Meta Platforms’s payout ratio is 9.42%.

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.