Mutual Advisors LLC Sells 1,064 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mutual Advisors LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,050 shares of the social networking company's stock after selling 1,064 shares during the period. Meta Platforms accounts for 0.8% of Mutual Advisors LLC's holdings, making the stock its 16th biggest position. Mutual Advisors LLC's holdings in Meta Platforms were worth $26,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the third quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new position in Meta Platforms during the third quarter worth about $49,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insiders Place Their Bets

In other news, CAO Aaron Anderson sold 731 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company's stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the transaction, the insider now owns 31,482 shares in the company, valued at $18,262,708.20. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 568,016 shares of company stock worth $346,031,180. Company insiders own 13.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a "buy" rating in a report on Monday, October 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Barclays raised their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Pivotal Research upped their target price on Meta Platforms from $780.00 to $800.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Robert W. Baird raised their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $654.20.

Meta Platforms Trading Up 1.7 %

Shares of META traded up $11.04 during mid-day trading on Friday, reaching $647.49. 19,039,689 shares of the company were exchanged, compared to its average volume of 9,840,293. The business has a 50 day simple moving average of $601.93 and a two-hundred day simple moving average of $560.51. Meta Platforms, Inc. has a 52 week low of $385.66 and a 52 week high of $652.00. The stock has a market capitalization of $1.63 trillion, a PE ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META - Get Free Report) last released 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 net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is currently 9.42%.

Meta Platforms Company 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.