Main Street Financial Solutions LLC Has $8.54 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Main Street Financial Solutions LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 184.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,592 shares of the social networking company's stock after purchasing an additional 9,468 shares during the period. Meta Platforms comprises about 0.8% of Main Street Financial Solutions LLC's investment portfolio, making the stock its 27th largest position. Main Street Financial Solutions LLC's holdings in Meta Platforms were worth $8,544,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Ballentine Partners LLC raised its holdings in shares of Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after buying an additional 808 shares in the last quarter. UMB Bank n.a. raised its stake in Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after acquiring an additional 897 shares in the last quarter. Brueske Advisory Services LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at $459,000. Apollon Financial LLC boosted its stake in shares of Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after purchasing an additional 148 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $618.00, for a total value of $255,234.00. Following the sale, the chief operating officer now directly owns 16,275 shares in the company, valued at $10,057,950. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $531.22, for a total value of $489,253.62. Following the transaction, the insider now directly owns 28,419 shares of the company's stock, valued at $15,096,741.18. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 379,901 shares of company stock worth $260,806,516 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 0.2 %

Shares of META traded down $0.83 during trading hours on Friday, reaching $501.48. The stock had a trading volume of 14,540,656 shares, compared to its average volume of 14,787,586. The firm has a 50-day moving average of $608.14 and a 200 day moving average of $607.21. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.27 trillion, a P/E ratio of 20.96, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 earnings per share. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.42%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is presently 8.78%.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. KeyCorp dropped their price objective on shares of Meta Platforms from $710.00 to $645.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Piper Sandler reduced their target price on Meta Platforms from $775.00 to $610.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a report on Monday, January 27th. Finally, Truist Financial reduced their price objective on Meta Platforms from $770.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday. Two research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $684.10.

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.