By otakuyassine3@gmail.com 
Klein Pavlis & Peasley Financial Inc. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 349 shares of the social networking company’s stock after selling 20 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Meta Platforms were worth $204,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the 3rd quarter valued at $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the 4th quarter valued at $41,000. Cordant Inc. purchased a new position in Meta Platforms during the 4th quarter worth $59,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Trading Up 0.3 %
META opened at $719.80 on Wednesday. The stock has a market capitalization of $1.82 trillion, a PE ratio of 30.09, a P/E/G ratio of 1.46 and a beta of 1.20. The firm’s fifty day moving average price is $631.85 and its 200 day moving average price is $578.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $725.01.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company earned $5.33 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.66 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 8.36%.
Insider Buying and Selling at Meta Platforms
In related news, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 756,735 shares of company stock worth $475,285,232 over the last 90 days. Insiders own 13.71% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on META shares. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Raymond James restated a “strong-buy” rating and issued a $800.00 price target (up from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Bank of America increased their price objective on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. DA Davidson boosted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Mizuho increased their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $717.90.
Read Our Latest Stock Report on Meta Platforms
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.
See Also
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