MCF Advisors LLC Sells 3,506 Shares of Meta Platforms, Inc. (NASDAQ:META)

MCF Advisors LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 41.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,926 shares of the social networking company’s stock after selling 3,506 shares during the quarter. MCF Advisors LLC’s holdings in Meta Platforms were worth $1,744,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of META. Vanguard Group Inc. raised its holdings in Meta Platforms by 1.0% during the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after acquiring an additional 1,733,182 shares in the last quarter. FMR LLC raised its holdings in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after acquiring an additional 5,001,647 shares in the last quarter. Morgan Stanley raised its holdings in Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after acquiring an additional 1,184,978 shares in the last quarter. Norges Bank bought a new stake in Meta Platforms during the fourth quarter worth about $4,223,148,000. Finally, Northern Trust Corp raised its holdings in Meta Platforms by 4.3% during the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock worth $6,906,009,000 after acquiring an additional 946,871 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Monness Crespi & Hardt upped their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Truist Financial upped their price objective on Meta Platforms from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp upped their price objective on Meta Platforms from $465.00 to $575.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Tigress Financial upped their price objective on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $519.53.

View Our Latest Analysis on META

Meta Platforms Price Performance

Shares of META stock traded down $20.73 during trading hours on Friday, reaching $481.07. The company’s stock had a trading volume of 25,215,364 shares, compared to its average volume of 11,967,675. The firm’s 50 day simple moving average is $494.55 and its 200-day simple moving average is $399.32. The company has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 32.29, a PEG ratio of 1.22 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $207.13 and a fifty-two week high of $531.49. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The firm had revenue of $40.11 billion for 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 company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is 13.42%.

Insider Activity

In other news, COO Javier Olivan sold 9,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $388.90, for a total value of $3,500,100.00. Following the completion of the transaction, the chief operating officer now directly owns 79,935 shares in the company, valued at approximately $31,086,721.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now directly owns 37,813 shares of the company’s stock, valued at approximately $18,853,183.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 9,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $388.90, for a total value of $3,500,100.00. Following the transaction, the chief operating officer now directly owns 79,935 shares of the company’s stock, valued at $31,086,721.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,421,182 shares of company stock worth $677,574,550. Insiders own 13.75% of the company’s stock.

Meta Platforms Company 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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