Peak Financial Management Inc. Lowers Stake in Meta Platforms, Inc. (NASDAQ:META)

Peak Financial Management Inc. cut its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 592 shares of the social networking company’s stock after selling 33 shares during the period. Peak Financial Management Inc.’s holdings in Meta Platforms were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC lifted its holdings in shares of Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after buying an additional 808 shares in the last quarter. UMB Bank n.a. lifted its stake in Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after purchasing an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Meta Platforms by 0.9% in the 3rd 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 purchasing an additional 118,298 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. increased its holdings in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was 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 90 days, insiders sold 661,312 shares of company stock valued at $407,377,422. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on META. Bank of America raised their price target on Meta Platforms from $660.00 to $710.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research report on Monday. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Susquehanna increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $655.41.

Read Our Latest Stock Analysis on META

Meta Platforms Stock Performance

META stock opened at $676.49 on Thursday. The firm has a 50-day simple moving average of $608.52 and a two-hundred day simple moving average of $563.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a one year low of $387.10 and a one year high of $682.58. 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.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) 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 last year, the company earned $5.33 EPS. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Meta Platforms Profile

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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