GSB Wealth Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,579 shares of the social networking company’s stock after selling 31 shares during the period. GSB Wealth Management LLC’s holdings in Meta Platforms were worth $2,096,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of META. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC lifted its holdings in Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the period. World Investment Advisors LLC lifted its holdings in Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC grew its holdings in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after acquiring an additional 661,923 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Insider Buying and Selling at Meta Platforms
In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $644.76, for a total transaction of $23,160,423.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 602,612 shares of company stock valued at $368,414,542 over the last ninety days. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Up 2.2 %
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.
Analyst Upgrades and Downgrades
META has been the topic of several research reports. Scotiabank dropped their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Pivotal Research upped their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp lifted their price target on shares of Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Susquehanna lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $654.20.
Get Our Latest Analysis on META
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.
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