Frazier Financial Advisors LLC Sells 79 Shares of Meta Platforms, Inc. (NASDAQ:META)

Frazier Financial Advisors LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,716 shares of the social networking company’s stock after selling 79 shares during the period. Meta Platforms comprises about 0.8% of Frazier Financial Advisors LLC’s portfolio, making the stock its 17th biggest holding. Frazier Financial Advisors LLC’s holdings in Meta Platforms were worth $1,014,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Howard Capital Management Group LLC lifted its stake in shares of Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock valued at $946,000 after purchasing an additional 251 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Meta Platforms by 6.5% in the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock valued at $1,928,185,000 after acquiring an additional 204,412 shares during the period. United Bank lifted its holdings in shares of Meta Platforms by 22.2% in the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock worth $3,188,000 after acquiring an additional 1,011 shares during the last quarter. Blue Investment Partners LLC boosted its stake in shares of Meta Platforms by 10.8% during the 3rd quarter. Blue Investment Partners LLC now owns 8,358 shares of the social networking company’s stock worth $4,784,000 after purchasing an additional 813 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in Meta Platforms by 3.4% during the 3rd quarter. D.A. Davidson & CO. now owns 71,472 shares of the social networking company’s stock valued at $40,914,000 after purchasing an additional 2,333 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $602.58 on Friday. 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 stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.42 and a beta of 1.23. The firm’s 50 day simple moving average is $655.95 and its 200-day simple moving average is $607.98. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $5.33 earnings per share. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 8.78%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on META shares. Royal Bank of Canada boosted their target price on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective on the stock in a research report on Thursday, January 30th. Wolfe Research lifted their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Susquehanna upped their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Finally, Barclays lifted their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the transaction, the chief operating officer now directly owns 17,514 shares in the company, valued at approximately $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the sale, the insider now owns 31,182 shares in the company, valued at approximately $19,552,673.10. This trade represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 584,823 shares of company stock worth $386,274,777. 13.71% of the stock is owned by corporate insiders.

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.