Cora Capital Advisors LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.2% in the fourth quarter, Holdings Channel reports. The firm owned 1,381 shares of the social networking company’s stock after selling 17 shares during the period. Cora Capital Advisors LLC’s holdings in Meta Platforms were worth $809,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of META. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $41,000. Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the third quarter valued at $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Insider Activity
In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the transaction, the chief operating officer now directly owns 10,294 shares of the company’s stock, valued at $5,842,668.52. This represents a 3.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 661,312 shares of company stock worth $407,377,422. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Trading Up 0.3 %
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same period in the prior year, the company earned $5.33 EPS. Analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s payout ratio is currently 9.42%.
Wall Street Analysts Forecast Growth
META has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Wolfe Research lifted their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Arete Research raised shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Finally, Guggenheim increased their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $655.41.
Check Out Our Latest Stock Report on Meta Platforms
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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