Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,927 shares of the social networking company’s stock after selling 441 shares during the quarter. Meta Platforms accounts for approximately 1.1% of Stratos Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Stratos Wealth Advisors LLC’s holdings in Meta Platforms were worth $23,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in META. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter valued at $41,000. Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at $59,000. Finally, Reston Wealth Management LLC purchased a new stake in Meta Platforms during the 3rd quarter worth about $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on META. Robert W. Baird raised their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Mizuho upped their target price on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Bank of America lifted their price target on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $710.83.

Insider Activity at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of the company’s 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 sale, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 701,146 shares of company stock valued at $435,387,895 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $714.52 on Monday. 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 business’s 50 day moving average is $627.23 and its 200-day moving average is $575.09. The stock has a market cap of $1.81 trillion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $725.01.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the company earned $5.33 EPS. On average, analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current 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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is currently 8.36%.

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.