Arthur M. Cohen & Associates LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 98.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130 shares of the social networking company's stock after selling 9,967 shares during the period. Arthur M. Cohen & Associates LLC's holdings in Meta Platforms were worth $76,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of META. Fiera Capital Corp increased its position in Meta Platforms by 35.1% during the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company's stock valued at $13,751,000 after purchasing an additional 7,089 shares during the period. Kendall Capital Management grew its position in Meta Platforms by 2.8% during the second quarter. Kendall Capital Management now owns 1,753 shares of the social networking company's stock valued at $884,000 after buying an additional 47 shares during the period. Intrepid Financial Planning Group LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $202,000. WCG Wealth Advisors LLC raised its stake in shares of Meta Platforms by 1.3% in the second quarter. WCG Wealth Advisors LLC now owns 21,669 shares of the social networking company's stock valued at $10,926,000 after buying an additional 277 shares during the period. Finally, Riverview Capital Advisers LLC boosted its position in Meta Platforms by 8.5% during the second quarter. Riverview Capital Advisers LLC now owns 843 shares of the social networking company's stock worth $425,000 after purchasing an additional 66 shares during the period. 79.91% of the stock is owned by institutional investors.
Meta Platforms Stock Up 0.2 %
Shares of Meta Platforms stock traded up $1.47 during trading hours on Monday, hitting $612.77. 17,239,131 shares of the company's stock traded hands, compared to its average volume of 10,812,479. Meta Platforms, Inc. has a twelve month low of $370.95 and a twelve month high of $638.40. The stock has a 50 day simple moving average of $596.78 and a 200-day simple moving average of $557.04. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.55 trillion, a PE ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms's payout ratio is 9.42%.
Analyst Ratings Changes
A number of research firms have weighed in on META. Wells Fargo & Company lifted their target price on Meta Platforms from $641.00 to $685.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wolfe Research increased their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Bank of America boosted their target price on Meta Platforms from $630.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Morgan Stanley raised their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Pivotal Research lifted their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Two equities research 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $650.05.
Read Our Latest Analysis on META
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total transaction of $22,133,083.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $631.55, for a total transaction of $571,552.75. Following the sale, the insider now directly owns 32,010 shares in the company, valued at $20,215,915.50. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 496,174 shares of company stock worth $301,408,499. Corporate insiders own 13.71% of the company's stock.
About Meta Platforms
(
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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