Money Concepts Capital Corp Sells 863 Shares of Meta Platforms, Inc. (NASDAQ:META)

Money Concepts Capital Corp cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,007 shares of the social networking company’s stock after selling 863 shares during the period. Money Concepts Capital Corp’s holdings in Meta Platforms were worth $3,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quattro Financial Advisors LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth about $368,000. WT Asset Management Ltd grew its position in Meta Platforms by 75.2% in the 4th quarter. WT Asset Management Ltd now owns 106,848 shares of the social networking company’s stock worth $62,561,000 after purchasing an additional 45,848 shares in the last quarter. Jericho Financial LLP bought a new stake in Meta Platforms in the 4th quarter worth about $6,676,000. Berkshire Money Management Inc. bought a new stake in Meta Platforms in the 4th quarter worth about $750,000. Finally, Jackson Wealth Management LLC grew its position in Meta Platforms by 19.8% in the 4th quarter. Jackson Wealth Management LLC now owns 12,493 shares of the social networking company’s stock worth $7,315,000 after purchasing an additional 2,069 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citigroup increased their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Finally, UBS Group increased their target price on shares of Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two 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 stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $710.83.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the transaction, the chief technology officer now directly owns 8,565 shares in the company, valued at approximately $4,943,375.40. This represents a 37.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 756,735 shares of company stock valued at $475,285,232. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $717.40 on Tuesday. The firm’s fifty day moving average price is $629.73 and its 200-day moving average price is $576.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market cap of $1.82 trillion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $725.01.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate 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 posted $5.33 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 8.36%.

About Meta Platforms

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.