Firethorn Wealth Partners LLC Has $615,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Firethorn Wealth Partners LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,050 shares of the social networking company’s stock after selling 25 shares during the period. Firethorn Wealth Partners LLC’s holdings in Meta Platforms were worth $615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of META. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the fourth quarter valued at about $41,000. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at about $49,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on META shares. BMO Capital Markets raised their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Pivotal Research raised their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and set a $700.00 target price (up previously from $680.00) on shares of Meta Platforms in a report on Wednesday, January 22nd. Mizuho boosted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Susquehanna upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $654.20.

Meta Platforms Trading Up 1.9 %

META stock opened at $659.88 on Tuesday. Meta Platforms, Inc. has a 52 week low of $387.10 and a 52 week high of $663.87. The company has a market capitalization of $1.67 trillion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company’s 50-day simple moving average is $604.04 and its 200 day simple moving average is $561.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared 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 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $644.76, for a total value of $23,160,423.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $631.55, for a total transaction of $571,552.75. Following the sale, the insider now directly owns 32,010 shares of the company’s stock, valued at approximately $20,215,915.50. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 603,032 shares of company stock valued at $368,666,614 over the last quarter. 13.71% of the stock is owned by corporate insiders.

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.