Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,055 shares of the social networking company’s stock after selling 17 shares during the period. Fortune Financial Advisors LLC’s holdings in Meta Platforms were worth $1,203,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $41,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, Cordant Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $697.46 on Tuesday. The company’s fifty day moving average price is $616.25 and its 200 day moving average price is $568.60. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $710.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $1.76 trillion, a P/E ratio of 29.16, a P/E/G ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 last year, the company posted $5.33 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors 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 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.36%.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Monness Crespi & Hardt increased 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. Wedbush reaffirmed an “outperform” rating and set a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Roth Mkm increased their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $710.83.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 673,878 shares of company stock worth $416,269,904 in the last ninety days. 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.