Pure Financial Advisors LLC Reduces Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Pure Financial Advisors LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,049 shares of the social networking company’s stock after selling 233 shares during the quarter. Pure Financial Advisors LLC’s holdings in Meta Platforms were worth $2,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the fourth quarter valued at approximately $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms in the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $623.50 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a fifty-two week low of $382.08 and a fifty-two week high of $638.40. The business has a fifty day moving average of $598.87 and a 200-day moving average of $558.76. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $626.80, for a total transaction of $22,515,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the transaction, the insider now directly owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 567,111 shares of company stock valued at $345,453,784. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on META shares. Pivotal Research boosted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. BMO Capital Markets raised their target price on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Bank of America upped their price target on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $652.98.

Check Out Our Latest Stock Report on META

About Meta Platforms

(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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