CarsonAllaria Wealth Management Ltd. Sells 20 Shares of Meta Platforms, Inc. (NASDAQ:META)

CarsonAllaria Wealth Management Ltd. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 28.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51 shares of the social networking company’s stock after selling 20 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Meta Platforms were worth $30,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB increased its stake in Meta Platforms by 32.5% in the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after acquiring an additional 112,047 shares during the last quarter. Ritholtz Wealth Management lifted its position in Meta Platforms by 1.0% during the third quarter. Ritholtz Wealth Management now owns 31,180 shares of the social networking company’s stock valued at $17,849,000 after buying an additional 323 shares during the period. CRA Financial Services LLC increased its position in Meta Platforms by 0.6% during the 3rd quarter. CRA Financial Services LLC now owns 13,874 shares of the social networking company’s stock valued at $7,942,000 after buying an additional 81 shares in the last quarter. Montis Financial LLC lifted its stake in shares of Meta Platforms by 32.9% in the third quarter. Montis Financial LLC now owns 934 shares of the social networking company’s stock worth $534,000 after buying an additional 231 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in Meta Platforms by 12.7% in the 3rd quarter. Annex Advisory Services LLC now owns 70,057 shares of the social networking company’s stock worth $40,104,000 after buying an additional 7,919 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $2,918,698.12. Following the sale, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at approximately $4,943,375.40. This trade represents a 37.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 701,146 shares of company stock worth $435,387,895 over the last 90 days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 0.4 %

NASDAQ META opened at $714.52 on Monday. The stock has a market capitalization of $1.81 trillion, a P/E ratio of 29.87, a PEG ratio of 1.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $725.01. The firm’s 50-day moving average is $627.23 and its two-hundred day moving average is $575.09.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the firm earned $5.33 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 8.36%.

Wall Street Analysts Forecast Growth

META has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Piper Sandler lifted their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two 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 assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $710.83.

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.