Coston McIsaac & Partners Has $1.24 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Coston McIsaac & Partners lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,112 shares of the social networking company’s stock after selling 303 shares during the period. Coston McIsaac & Partners’ holdings in Meta Platforms were worth $1,236,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. JDM Financial Group LLC bought a new stake in Meta Platforms during the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $41,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $49,000. Finally, Cordant Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Roth Mkm raised their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial raised their target price on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, DA Davidson raised their target price on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $710.83.

Meta Platforms Stock Performance

META stock opened at $697.46 on Tuesday. The business’s 50-day moving average price is $616.25 and its two-hundred day moving average price is $568.60. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.76 trillion, a PE ratio of 29.16, a P/E/G ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $710.79.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $5.33 EPS. As a group, research analysts forecast that Meta Platforms, Inc. will post 25.94 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 8.36%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 12,975 shares of Meta Platforms stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $696.39, for a total value of $9,035,660.25. Following the sale, the chief executive officer now owns 210,971 shares of the company’s stock, valued at approximately $146,918,094.69. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 673,878 shares of company stock valued at $416,269,904. 13.71% of the stock is owned by insiders.

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.