True North Advisors LLC Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

True North Advisors LLC lowered its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,268 shares of the social networking company’s stock after selling 160 shares during the quarter. True North Advisors LLC’s holdings in Meta Platforms were worth $803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signify Wealth purchased a new stake in Meta Platforms during the 4th quarter worth approximately $228,000. Investment Research & Advisory Group Inc. raised its holdings in Meta Platforms by 1.5% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after acquiring an additional 164 shares in the last quarter. Keel Point LLC grew its holdings in Meta Platforms by 6.3% during the 3rd quarter. Keel Point LLC now owns 6,690 shares of the social networking company’s stock worth $2,008,000 after acquiring an additional 399 shares in the last quarter. Syntegra Private Wealth Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $269,000. Finally, AFT Forsyth & Company Inc. lifted its position in shares of Meta Platforms by 5.6% during the third quarter. AFT Forsyth & Company Inc. now owns 4,149 shares of the social networking company’s stock worth $1,246,000 after purchasing an additional 220 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

META has been the topic of several research reports. Morgan Stanley upped their price objective on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Raymond James boosted their price objective on Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 2nd. Wolfe Research increased their target price on shares of Meta Platforms from $430.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Robert W. Baird boosted their price objective on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus raised their target price on shares of Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $496.35.

View Our Latest Stock Analysis on Meta Platforms

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $513.32, for a total transaction of $251,526.80. Following the sale, the chief operating officer now directly owns 10,029 shares in the company, valued at approximately $5,148,086.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $513.32, for a total value of $251,526.80. Following the sale, the chief operating officer now owns 10,029 shares of the company’s stock, valued at approximately $5,148,086.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $351.47, for a total value of $6,917,281.07. The disclosure for this sale can be found here. Insiders sold a total of 1,502,805 shares of company stock worth $703,056,383 in the last ninety days. 14.03% of the stock is currently owned by insiders.

Meta Platforms Stock Up 1.2 %

META stock opened at $491.35 on Tuesday. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.20. The company has a 50-day moving average of $471.26 and a two-hundred day moving average of $379.61. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $523.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is currently 13.42%.

Meta Platforms Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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