Frazier Financial Advisors LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Frazier Financial Advisors LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,795 shares of the social networking company’s stock after selling 123 shares during the period. Meta Platforms makes up 0.8% of Frazier Financial Advisors LLC’s portfolio, making the stock its 18th biggest position. Frazier Financial Advisors LLC’s holdings in Meta Platforms were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of META. GoalVest Advisory LLC boosted its stake in Meta Platforms by 25.2% in the 3rd quarter. GoalVest Advisory LLC now owns 353 shares of the social networking company’s stock worth $202,000 after purchasing an additional 71 shares in the last quarter. Sawgrass Asset Management LLC raised its holdings in Meta Platforms by 323.4% in the third quarter. Sawgrass Asset Management LLC now owns 24,982 shares of the social networking company’s stock worth $14,301,000 after buying an additional 19,082 shares during the last quarter. Sage Advisors LLC lifted its stake in shares of Meta Platforms by 3.2% in the third quarter. Sage Advisors LLC now owns 2,103 shares of the social networking company’s stock worth $1,204,000 after buying an additional 65 shares in the last quarter. Schear Investment Advisers LLC grew its holdings in shares of Meta Platforms by 13.8% during the third quarter. Schear Investment Advisers LLC now owns 7,524 shares of the social networking company’s stock valued at $4,307,000 after buying an additional 912 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC increased its position in shares of Meta Platforms by 4.1% during the third quarter. WESPAC Advisors SoCal LLC now owns 3,517 shares of the social networking company’s stock valued at $2,013,000 after acquiring an additional 140 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. Raymond James increased their target price on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. UBS Group upped their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company dropped their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $561.09 on Wednesday. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50 day moving average price of $570.23 and a 200-day moving average price of $522.73. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 620 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the sale, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,958 shares of company stock valued at $101,181,747. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Profile

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.