Portside Wealth Group LLC Sells 33 Shares of Meta Platforms, Inc. (NASDAQ:META)

Portside Wealth Group LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 5,883 shares of the social networking company’s stock after selling 33 shares during the period. Portside Wealth Group LLC’s holdings in Meta Platforms were worth $3,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sandy Cove Advisors LLC lifted its holdings in Meta Platforms by 7.7% during the fourth quarter. Sandy Cove Advisors LLC now owns 3,981 shares of the social networking company’s stock worth $2,331,000 after acquiring an additional 284 shares in the last quarter. Bowman & Co S.C. grew its position in shares of Meta Platforms by 6.6% in the 4th quarter. Bowman & Co S.C. now owns 3,722 shares of the social networking company’s stock valued at $2,183,000 after purchasing an additional 231 shares during the period. Moss Adams Wealth Advisors LLC increased its stake in Meta Platforms by 5.3% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 8,167 shares of the social networking company’s stock worth $4,782,000 after purchasing an additional 408 shares in the last quarter. Riversedge Advisors LLC raised its holdings in Meta Platforms by 7.2% during the 4th quarter. Riversedge Advisors LLC now owns 1,460 shares of the social networking company’s stock worth $855,000 after buying an additional 98 shares during the period. Finally, Sandbox Financial Partners LLC lifted its stake in Meta Platforms by 3.8% in the fourth quarter. Sandbox Financial Partners LLC now owns 5,281 shares of the social networking company’s stock valued at $3,092,000 after buying an additional 191 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 14,746 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.53, for a total transaction of $8,162,353.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 495,269 shares of company stock valued at $300,888,396. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 0.2 %

META opened at $612.77 on Tuesday. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $370.95 and a twelve month high of $638.40. The company has a 50-day simple moving average of $597.37 and a 200 day simple moving average of $557.77.

Meta Platforms (NASDAQ:META) last posted 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 business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on META shares. Wolfe Research raised their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Roth Mkm upped their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp lifted their target price on Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $675.00 price objective on shares of Meta Platforms in a report on Monday, November 25th. Two investment 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 stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

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.