Financial Management Professionals Inc. Sells 73 Shares of Meta Platforms, Inc. (NASDAQ:META)

Financial Management Professionals Inc. lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,959 shares of the social networking company’s stock after selling 73 shares during the period. Financial Management Professionals Inc.’s holdings in Meta Platforms were worth $1,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC grew its position in Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the period. Cutter & CO Brokerage Inc. raised its stake in Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after buying an additional 65 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Meta Platforms by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after buying an additional 5,594 shares during the last quarter. Finally, M&G PLC grew its holdings in shares of Meta Platforms by 14.6% in the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after acquiring an additional 91,773 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on META shares. Morgan Stanley increased their target price on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Pivotal Research upped their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Wedbush raised their target price on Meta Platforms from $640.00 to $680.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $650.05.

Insider Transactions at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total value of $547,108.70. Following the completion of the transaction, the insider now directly owns 31,105 shares in the company, valued at $18,804,216.70. This trade represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 495,269 shares of company stock worth $300,888,396. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 0.2 %

Shares of NASDAQ:META opened at $612.77 on Tuesday. The company has a 50-day moving average price of $597.37 and a 200 day moving average price of $557.77. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $370.95 and a 12 month high of $638.40. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio 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.