Walter & Keenan Wealth Management LLC IN ADV Sells 82 Shares of Meta Platforms, Inc. (NASDAQ:META)

Walter & Keenan Wealth Management LLC IN ADV trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,346 shares of the social networking company’s stock after selling 82 shares during the period. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Meta Platforms were worth $1,183,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of META. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC increased its position 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 acquiring an additional 58 shares in the last quarter. Richardson Financial Services Inc. increased its position in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms in the first quarter worth about $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the firm’s 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 transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the sale, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. The disclosure for this sale can be found here. Insiders sold a total of 335,860 shares of company stock valued at $167,199,478 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Roth Mkm lifted their target price on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. TD Cowen lifted their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $525.00 target price on shares of Meta Platforms in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $572.51.

Meta Platforms Price Performance

Shares of META stock traded up $6.85 on Tuesday, hitting $522.80. 2,369,297 shares of the company’s stock were exchanged, compared to its average volume of 16,353,280. The company has a 50 day moving average of $497.26 and a 200 day moving average of $484.74. The stock has a market cap of $1.33 trillion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $3.23 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.