High Net Worth Advisory Group LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 3,824 shares of the social networking company’s stock after selling 94 shares during the period. High Net Worth Advisory Group LLC’s holdings in Meta Platforms were worth $2,239,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter valued at $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the third quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter worth $49,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
META has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. UBS Group boosted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Finally, Mizuho lifted their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $655.41.
Insiders Place Their Bets
In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $673.57, for a total transaction of $24,195,307.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 661,312 shares of company stock valued at $407,377,422. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Stock Up 0.3 %
META opened at $676.49 on Thursday. The firm has a market cap of $1.71 trillion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.18 and a beta of 1.19. 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 firm’s 50-day simple moving average is $608.52 and its 200-day simple moving average is $563.58. Meta Platforms, Inc. has a twelve month low of $387.10 and a twelve month high of $682.58.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings data 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 quarter in the previous year, the business earned $5.33 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.30%. Meta Platforms’s payout ratio is 9.42%.
About Meta Platforms
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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