GenWealth Group Inc. Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

GenWealth Group Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,141 shares of the social networking company’s stock after selling 19 shares during the quarter. GenWealth Group Inc.’s holdings in Meta Platforms were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC boosted its holdings in Meta Platforms by 527.3% during 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 during the period. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% during 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 in the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Meta Platforms in the 1st quarter worth $44,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the business’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 value of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,826 shares of company stock worth $131,791,613. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on META shares. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Roth Mkm lifted their target price on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Friday. Finally, DA Davidson began coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $613.46.

Meta Platforms Stock Performance

Shares of META stock opened at $590.42 on Tuesday. The company has a market cap of $1.50 trillion, a P/E ratio of 33.91, a PEG ratio of 1.45 and a beta of 1.22. 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 firm has a fifty day moving average price of $540.41 and a 200 day moving average price of $506.41. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

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.