Fairman Group LLC Invests $403,000 in Meta Platforms, Inc. (NASDAQ:META)

Fairman Group LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,139 shares of the social networking company’s stock, valued at approximately $403,000. Meta Platforms comprises 0.4% of Fairman Group LLC’s portfolio, making the stock its 26th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC increased its stake in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC lifted its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on META shares. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Wolfe Research decreased their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Raymond James lifted their price target on Meta Platforms from $525.00 to $550.00 and gave the company a “strong-buy” rating in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $510.41.

Meta Platforms Trading Down 1.4 %

NASDAQ META opened at $499.49 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The company has a 50-day simple moving average of $480.14 and a 200-day simple moving average of $444.30. The firm has a market capitalization of $1.27 trillion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $505.75, for a total transaction of $208,369.00. Following the completion of the transaction, the chief operating officer now owns 8,031 shares in the company, valued at $4,061,678.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the completion of the transaction, the chief executive officer now owns 275,297 shares in the company, valued at approximately $138,567,991.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $505.75, for a total value of $208,369.00. Following the transaction, the chief operating officer now directly owns 8,031 shares in the company, valued at $4,061,678.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 391,071 shares of company stock worth $192,834,857. 13.71% of the stock is owned by insiders.

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.