Stablepoint Partners LLC Sells 241 Shares of Meta Platforms, Inc. (NASDAQ:META)

Stablepoint Partners LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,559 shares of the social networking company’s stock after selling 241 shares during the quarter. Meta Platforms accounts for approximately 1.1% of Stablepoint Partners LLC’s holdings, making the stock its 21st biggest holding. Stablepoint Partners LLC’s holdings in Meta Platforms were worth $6,182,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JDM Financial Group LLC bought a new stake in Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the 4th quarter worth about $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new position in Meta Platforms during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. Robert W. Baird raised their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Arete Research upgraded Meta Platforms to a “hold” rating in a research note on Friday, January 24th. BMO Capital Markets upped their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $700.00 target price (up from $680.00) on shares of Meta Platforms in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, five 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 data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $655.41.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares of the company’s stock, valued at $29,776,261.56. The trade was a 14.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 661,312 shares of company stock valued at $407,377,422. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.3 %

Shares of Meta Platforms stock opened at $676.49 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a fifty day simple moving average of $608.52 and a two-hundred day simple moving average of $563.58. Meta Platforms, Inc. has a 1 year low of $387.10 and a 1 year high of $682.58. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same quarter in the previous year, the firm posted $5.33 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

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 dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.