By otakuyassine3@gmail.com 
Soltis Investment Advisors LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,724 shares of the social networking company’s stock after selling 738 shares during the quarter. Meta Platforms accounts for about 1.1% of Soltis Investment Advisors LLC’s holdings, making the stock its 14th biggest holding. Soltis Investment Advisors LLC’s holdings in Meta Platforms were worth $12,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of META. International Assets Investment Management LLC boosted 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 buying an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC boosted its stake in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the period. Strategic Financial Concepts LLC boosted its stake in Meta Platforms by 87,269.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock worth $625,125,000 after buying an additional 1,066,437 shares during the period. World Investment Advisors LLC boosted its stake in Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Meta Platforms by 1.5% in 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 period. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Insiders Place Their Bets
In other Meta Platforms news, CTO Andrew Bosworth sold 14,746 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.53, for a total transaction of $8,162,353.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 18,644 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the sale, the chief financial officer now owns 46,769 shares in the company, valued at $25,888,979.95. The trade was a 28.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 793,070 shares of company stock worth $504,185,108. Corporate insiders own 13.71% of the company’s stock.
Meta Platforms Stock Performance
Shares of META opened at $736.67 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $1.87 trillion, a P/E ratio of 30.80, a P/E/G ratio of 1.46 and a beta of 1.20. The company’s fifty day moving average is $638.73 and its two-hundred day moving average is $583.52. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the company posted $5.33 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.
Meta Platforms Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s payout ratio is presently 8.36%.
Analyst Ratings Changes
Several research analysts have recently commented on META shares. Citigroup raised their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research note on Thursday, January 30th. Robert W. Baird raised their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Oppenheimer raised their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $717.90.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms Company 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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