Whalen Wealth Management Inc. Has $3.31 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Whalen Wealth Management Inc. lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 16.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,648 shares of the social networking company’s stock after selling 1,079 shares during the quarter. Meta Platforms comprises approximately 2.3% of Whalen Wealth Management Inc.’s holdings, making the stock its 10th largest holding. Whalen Wealth Management Inc.’s holdings in Meta Platforms were worth $3,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC grew its holdings in shares of Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the period. World Investment Advisors LLC increased its position in shares of Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after buying an additional 890,434 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $647.49 on Friday. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52 week low of $385.66 and a 52 week high of $652.00. The company has a 50-day simple moving average of $601.93 and a 200 day simple moving average of $560.33.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Activity

In other news, CFO Susan J. Li sold 8,951 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 transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s 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 transaction, the insider now owns 31,482 shares in the company, 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. Over the last 90 days, insiders sold 568,016 shares of company stock valued at $346,031,180. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Roth Mkm raised their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Scotiabank reduced their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Mizuho raised their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target 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.