Mindset Wealth Management LLC Sells 38 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mindset Wealth Management LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,040 shares of the social networking company’s stock after selling 38 shares during the period. Meta Platforms makes up approximately 0.9% of Mindset Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Mindset Wealth Management LLC’s holdings in Meta Platforms were worth $2,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Seelaus Asset Management LLC lifted its holdings in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning raised its position in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after purchasing an additional 15 shares during the period. Maiden Cove Capital LLC lifted its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after buying an additional 15 shares during the last quarter. Stephens Consulting LLC boosted its holdings in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after buying an additional 16 shares during the period. Finally, VeraBank N.A. grew its stake in Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after buying an additional 16 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 owns 17,514 shares in the company, valued at $10,318,548.24. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 622,431 shares of company stock valued at $408,968,491. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.7 %

Shares of NASDAQ META opened at $596.25 on Monday. The company has a 50 day simple moving average of $655.38 and a 200 day simple moving average of $606.39. 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 1 year low of $414.50 and a 1 year high of $740.91. The firm has a market cap of $1.51 trillion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 in the prior year, the company earned $5.33 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is 8.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Arete Research upgraded shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. JMP Securities reissued a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Royal Bank of Canada increased their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Susquehanna boosted their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $718.31.

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.