Von Berge Wealth Management Group LLC Sells 57 Shares of Meta Platforms, Inc. (NASDAQ:META)

Von Berge Wealth Management Group LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,096 shares of the social networking company’s stock after selling 57 shares during the period. Meta Platforms makes up 1.2% of Von Berge Wealth Management Group LLC’s portfolio, making the stock its 18th biggest holding. Von Berge Wealth Management Group LLC’s holdings in Meta Platforms were worth $2,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the second 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 during the period. Halpern Financial Inc. acquired a new stake in Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC bought a new position in Meta Platforms during the third quarter valued at about $49,000. Finally, NewSquare Capital LLC raised its holdings in Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,218 shares of company stock worth $65,819,414. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 1.1 %

Shares of NASDAQ META opened at $565.11 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company’s 50 day simple moving average is $573.38 and its 200 day simple moving average is $525.35.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. DA Davidson assumed coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Mizuho raised their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Truist Financial lifted their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Susquehanna increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. 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 given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $634.71.

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.