Meta Platforms, Inc. (NASDAQ:META) Shares Sold by TrueWealth Advisors LLC

TrueWealth Advisors LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 44.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 596 shares of the social networking company’s stock after selling 484 shares during the quarter. TrueWealth Advisors LLC’s holdings in Meta Platforms were worth $349,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter worth about $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the fourth quarter worth approximately $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Barclays boosted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. TD Cowen upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird lifted their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $612.77 on Monday. The stock has a fifty day moving average price of $596.78 and a 200 day moving average price of $557.04. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40. 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 company has a market cap of $1.55 trillion, a PE ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Activity

In other news, insider Nicholas Clegg sold 1,131 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $652,767.96. Following the sale, the insider now directly owns 1,229 shares in the company, valued at $709,329.64. This represents a 47.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 496,174 shares of company stock worth $301,408,499. Company insiders own 13.71% of the company’s stock.

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.