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

Walter & Keenan Wealth Management LLC IN ADV reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing 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 quarter. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Meta Platforms were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Delos Wealth Advisors LLC lifted its holdings 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 worth $34,000 after purchasing an additional 58 shares in the last quarter. Richardson Financial Services Inc. raised its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms during the first quarter worth $44,000. Finally, Clear Investment Research LLC grew its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on META shares. Bank of America increased their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler raised their price target on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. JMP Securities reaffirmed a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. Sanford C. Bernstein raised their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Oppenheimer boosted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $572.51.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 4,911 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,317,255.35. Following the transaction, the chief operating officer now directly owns 11,388 shares of the company’s stock, valued at approximately $5,373,427.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Javier Olivan sold 4,911 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,317,255.35. Following the sale, the chief operating officer now owns 11,388 shares in the company, valued at $5,373,427.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, August 9th. The shares were 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 $50,618,380.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,860 shares of company stock worth $167,199,478. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 1.3 %

Shares of NASDAQ:META traded up $6.85 during trading hours on Tuesday, hitting $522.80. The company’s stock had a trading volume of 2,369,297 shares, compared to its average volume of 16,353,280. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The firm’s fifty day moving average price is $497.26 and its 200 day moving average price is $484.74. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the company earned $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 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.