Seed Wealth Management Inc. Cuts Stock Holdings in Meta Platforms, Inc. $META

Seed Wealth Management Inc. reduced its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 65.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 644 shares of the social networking company’s stock after selling 1,226 shares during the quarter. Seed Wealth Management Inc.’s holdings in Meta Platforms were worth $473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Meta Platforms by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after acquiring an additional 1,532,568 shares during the period. State Street Corp raised its holdings in Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares during the period. Kingstone Capital Partners Texas LLC boosted its position in Meta Platforms by 608,429.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Meta Platforms by 1.3% in the second quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock valued at $37,902,948,000 after purchasing an additional 682,768 shares during the period. Finally, Norges Bank acquired a new stake in Meta Platforms in the second quarter valued at approximately $23,155,393,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several research analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Piper Sandler decreased their price objective on shares of Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. KeyCorp dropped their target price on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Wall Street Zen cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a research note on Monday, December 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $820.22.

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Insiders Place Their Bets

In related news, Director Robert M. Kimmitt sold 580 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $646.00, for a total transaction of $374,680.00. Following the completion of the sale, the director directly owned 6,167 shares in the company, valued at approximately $3,983,882. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $659.38, for a total transaction of $342,218.22. Following the transaction, the insider directly owned 29,177 shares in the company, valued at $19,238,730.26. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,038 shares of company stock valued at $25,587,621 in the last three months. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

META opened at $658.69 on Tuesday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm has a market capitalization of $1.66 trillion, a PE ratio of 29.09, a PEG ratio of 1.37 and a beta of 1.28. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $653.34 and its 200 day moving average price is $706.14.

Meta Platforms (NASDAQ:METAGet Free Report) last released 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 net margin of 30.89% and a return on equity of 39.35%. The business’s revenue was up 26.2% on a year-over-year basis. During the same period last year, the company posted $6.03 EPS. As a group, sell-side 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 was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, December 15th. Meta Platforms’s dividend payout ratio is presently 9.28%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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