Legacy Capital Wealth Partners LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 40.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,832 shares of the social networking company's stock after selling 2,578 shares during the quarter. Meta Platforms makes up 0.5% of Legacy Capital Wealth Partners LLC's holdings, making the stock its 25th largest holding. Legacy Capital Wealth Partners LLC's holdings in Meta Platforms were worth $2,244,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Everhart Financial Group Inc. grew its holdings in shares of Meta Platforms by 32.0% in the 4th quarter. Everhart Financial Group Inc. now owns 17,000 shares of the social networking company's stock worth $9,954,000 after acquiring an additional 4,124 shares during the last quarter. Lakeridge Wealth Management LLC grew its holdings in shares of Meta Platforms by 4.5% during the fourth quarter. Lakeridge Wealth Management LLC now owns 575 shares of the social networking company's stock valued at $337,000 after buying an additional 25 shares in the last quarter. TigerOak Management L.L.C. purchased a new position in shares of Meta Platforms during the fourth quarter valued at $347,000. Seascape Capital Management grew its holdings in shares of Meta Platforms by 5.6% during the fourth quarter. Seascape Capital Management now owns 5,255 shares of the social networking company's stock valued at $3,077,000 after buying an additional 278 shares in the last quarter. Finally, Peregrine Investment Management Inc. purchased a new position in shares of Meta Platforms during the fourth quarter valued at $8,947,000. 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 company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 810,217 shares of company stock worth $523,808,864. Company insiders own 13.71% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on META. Susquehanna boosted their target price on Meta Platforms from $675.00 to $800.00 and gave the company a "positive" rating in a research note on Thursday, January 30th. BMO Capital Markets boosted their target price on Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Sanford C. Bernstein boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Scotiabank boosted their target price on Meta Platforms from $583.00 to $627.00 and gave the company a "sector perform" rating in a research note on Thursday, January 30th. Finally, Wolfe Research boosted their target price on Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $717.90.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Trading Down 1.6 %
Shares of META opened at $683.62 on Friday. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. 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 firm has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.44 and a beta of 1.20. The stock's 50-day moving average price is $647.09 and its 200 day moving average price is $590.57.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business earned $5.33 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.
Meta Platforms Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms's dividend payout ratio is currently 8.36%.
Meta Platforms Company Profile
(
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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