Krilogy Financial LLC Sells 1,181 Shares of Meta Platforms, Inc. (NASDAQ:META)

Krilogy Financial LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,022 shares of the social networking company's stock after selling 1,181 shares during the quarter. Krilogy Financial LLC's holdings in Meta Platforms were worth $10,552,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management bought a new position in Meta Platforms in the fourth quarter valued at about $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms in the third quarter worth about $49,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 0.6 %

Shares of Meta Platforms stock traded up $3.69 on Tuesday, hitting $616.46. The company had a trading volume of 11,571,246 shares, compared to its average volume of 13,100,104. Meta Platforms, Inc. has a 1 year low of $381.16 and a 1 year high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50 day moving average of $597.37 and a 200-day moving average of $557.77. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 1.16 and a beta of 1.19.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms's payout ratio is currently 9.42%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on META shares. UBS Group upped their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an "overweight" rating and set a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. Jefferies Financial Group raised their price objective on Meta Platforms from $675.00 to $715.00 and gave the company a "buy" rating in a report on Monday, January 6th. BMO Capital Markets upped their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Finally, Morgan Stanley lifted their price target on Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $651.27.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total value of $22,133,083.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares of the company's stock, valued at approximately $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 495,269 shares of company stock worth $300,888,396. 13.71% of the stock is owned by insiders.

Meta Platforms 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.