Advocate Group LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 21.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656 shares of the social networking company’s stock after selling 181 shares during the period. Advocate Group LLC’s holdings in Meta Platforms were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC raised its position in shares of Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. International Assets Investment Management LLC increased its stake in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the period. 79.91% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on META shares. Wells Fargo & Company lifted their target price on Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Monday. Barclays increased their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Wolfe Research boosted their target price on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $654.20.
Meta Platforms Trading Up 2.2 %
Meta Platforms stock opened at $674.33 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market cap of $1.70 trillion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The stock has a 50-day moving average of $606.30 and a two-hundred day moving average of $562.78. Meta Platforms, Inc. has a one year low of $387.10 and a one year high of $682.58.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is currently 9.42%.
Insiders Place Their Bets
In related news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares of the company’s stock, valued at $29,776,261.56. The trade was a 14.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $644.76, for a total value of $23,160,423.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 602,612 shares of company stock valued at $368,414,542. Insiders own 13.71% of the company’s stock.
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.
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