Arkadios Wealth Advisors lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,946 shares of the social networking company's stock after selling 797 shares during the period. Meta Platforms accounts for about 0.9% of Arkadios Wealth Advisors' investment portfolio, making the stock its 19th largest holding. Arkadios Wealth Advisors' holdings in Meta Platforms were worth $16,948,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.5% during 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 last quarter. Jennison Associates LLC raised its position in shares of Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company's stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company's stock valued at $4,101,602,000 after purchasing an additional 186,728 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Meta Platforms Price Performance
Shares of NASDAQ META traded up $1.47 during midday trading on Monday, reaching $612.77. 17,239,131 shares of the stock traded hands, compared to its average volume of 10,812,479. The company's 50 day moving average is $596.78 and its 200 day moving average is $557.04. Meta Platforms, Inc. has a one year low of $370.95 and a one year high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market capitalization of $1.55 trillion, a PE ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors 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 dividend on an annualized basis and a yield of 0.33%. Meta Platforms's dividend payout ratio is presently 9.42%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on META shares. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Thursday, October 31st. Monness Crespi & Hardt increased their target price on Meta Platforms from $620.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Wedbush boosted their price target on Meta Platforms from $640.00 to $680.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. Piper Sandler increased their price objective on Meta Platforms from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Finally, Truist Financial boosted their target price on Meta Platforms from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $650.05.
Get Our Latest Research Report on META
Insider Buying and Selling
In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer now owns 3,414 shares of the company's stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total value of $22,133,083.36. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock worth $301,408,499 over the last three months. 13.71% of the stock is owned by insiders.
About Meta Platforms
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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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