BlueChip Wealth Advisors LLC Sells 509 Shares of Meta Platforms, Inc. (NASDAQ:META)

BlueChip Wealth Advisors LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,254 shares of the social networking company's stock after selling 509 shares during the period. BlueChip Wealth Advisors LLC's holdings in Meta Platforms were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the 3rd quarter worth approximately $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $40,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $41,000. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $43,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $603.98, for a total transaction of $21,695,565.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the transaction, the insider now directly owns 31,182 shares of the company's stock, valued at approximately $19,552,673.10. The trade was a 2.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 584,410 shares of company stock worth $386,031,454. Corporate insiders own 13.71% of the company's stock.

Remove Ads

Meta Platforms Stock Performance

Meta Platforms stock traded down $0.38 during mid-day trading on Monday, hitting $576.36. 20,419,137 shares of the company's stock traded hands, compared to its average volume of 14,265,663. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 1.23. The firm has a 50 day simple moving average of $655.23 and a two-hundred day simple moving average of $609.90. 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 (NASDAQ:META - Get Free Report) last released its quarterly earnings results 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the company posted $5.33 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on META. BMO Capital Markets upped their price target on Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Piper Sandler increased their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Susquehanna increased their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a "positive" rating in a research report on Thursday, January 30th. Finally, Bank of America boosted their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Two 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 target price of $718.55.

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.