Daymark Wealth Partners LLC Cuts Position in Meta Platforms, Inc. (NASDAQ:META)

Daymark Wealth Partners LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,035 shares of the social networking company's stock after selling 1,753 shares during the period. Daymark Wealth Partners LLC's holdings in Meta Platforms were worth $6,461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Meta Platforms by 57,001.5% in 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 purchasing an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of Meta Platforms by 61,769.3% in the 3rd 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 last quarter. World Investment Advisors LLC grew its position 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 valued at $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC increased its holdings in 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 worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company's stock worth $369,774,000 after acquiring an additional 661,923 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the sale, the insider now owns 31,482 shares of the company's stock, valued at approximately $18,262,708.20. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 568,016 shares of company stock valued at $346,031,180 over the last three months. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 1.7 %

Meta Platforms stock traded up $11.04 during mid-day trading on Friday, hitting $647.49. The company's stock had a trading volume of 19,039,689 shares, compared to its average volume of 9,840,293. The business has a 50 day moving average price of $601.93 and a 200-day moving average price of $560.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 12 month low of $385.66 and a 12 month high of $652.00. The stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.18 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 earnings per share for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms's dividend payout ratio is 9.42%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on META shares. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Piper Sandler upped their price target on Meta Platforms from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of Meta Platforms from $650.00 to $700.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $654.20.

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.