Solidarity Wealth LLC Sells 11,538 Shares of Meta Platforms, Inc. $META

Solidarity Wealth LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 94.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728 shares of the social networking company’s stock after selling 11,538 shares during the quarter. Solidarity Wealth LLC’s holdings in Meta Platforms were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in META. Bare Financial Services Inc bought a new stake in Meta Platforms in the 2nd quarter valued at about $30,000. Evergreen Private Wealth LLC boosted its position in Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares during the period. Briaud Financial Planning Inc bought a new position in Meta Platforms during the second quarter worth about $42,000. WFA Asset Management Corp increased its stake in shares of Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares in the last quarter. Finally, Maseco LLP bought a new stake in shares of Meta Platforms in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 6,875 shares of the stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $4,190,037.50. Following the transaction, the chief financial officer owned 88,370 shares of the company’s stock, valued at $53,857,980.20. This represents a 7.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the sale, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 40,923 shares of company stock worth $25,887,293. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

NASDAQ:META opened at $666.80 on Tuesday. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The stock has a fifty day moving average of $671.62 and a 200 day moving average of $707.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 1.41 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.03 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s payout ratio is presently 9.28%.

Analyst Ratings Changes

META has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $920.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. Truist Financial dropped their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Stifel Nicolaus cut their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $870.00 price target (down from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $825.00 price objective (down previously from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $819.43.

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.