Prairie Sky Financial Group LLC Sells 104 Shares of Meta Platforms, Inc. (NASDAQ:META)

Prairie Sky Financial Group LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.0% in the fourth quarter, HoldingsChannel reports. The fund owned 590 shares of the social networking company’s stock after selling 104 shares during the period. Prairie Sky Financial Group LLC’s holdings in Meta Platforms were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of META. Fiera Capital Corp lifted its stake in shares of Meta Platforms by 35.1% in the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock valued at $13,751,000 after acquiring an additional 7,089 shares during the last quarter. Fred Alger Management LLC increased its holdings in Meta Platforms by 0.4% during the 2nd quarter. Fred Alger Management LLC now owns 1,938,574 shares of the social networking company’s stock valued at $977,468,000 after purchasing an additional 7,539 shares during the period. Blankinship & Foster LLC purchased a new position in Meta Platforms during the 2nd quarter valued at about $352,000. Unisphere Establishment increased its holdings in Meta Platforms by 235.0% during the 2nd quarter. Unisphere Establishment now owns 33,500 shares of the social networking company’s stock valued at $16,891,000 after purchasing an additional 23,500 shares during the period. Finally, Wick Capital Partners LLC increased its holdings in Meta Platforms by 9.1% during the 2nd quarter. Wick Capital Partners LLC now owns 598 shares of the social networking company’s stock valued at $302,000 after purchasing an additional 50 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares of the company’s stock, valued at $18,262,708.20. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,016 shares of company stock worth $346,031,180 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $636.45 on Friday. 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 stock has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $385.66 and a 1-year high of $638.40. The business’s fifty day moving average price is $600.06 and its 200-day moving average price is $559.30.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on META shares. Monness Crespi & Hardt boosted their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Pivotal Research boosted their price target on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Scotiabank reduced their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $654.20.

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.