Contravisory Investment Management Inc. Sells 127 Shares of Meta Platforms, Inc. (NASDAQ:META)

Contravisory Investment Management Inc. lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,996 shares of the social networking company’s stock after selling 127 shares during the quarter. Meta Platforms comprises 2.0% of Contravisory Investment Management Inc.’s portfolio, making the stock its 17th largest position. Contravisory Investment Management Inc.’s holdings in Meta Platforms were worth $9,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in META. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the 3rd quarter worth about $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the 4th quarter valued at about $41,000. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter worth approximately $49,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Wedbush upped their price objective on Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group raised their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Bank of America lifted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report 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 issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares in the company, valued at approximately $6,147,531.12. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 496,174 shares of company stock worth $301,408,499. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of META opened at $611.30 on Friday. The stock has a 50-day simple moving average of $595.92 and a 200-day simple moving average of $555.25. 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 1 year low of $358.61 and a 1 year high of $638.40. The stock has a market capitalization of $1.54 trillion, a PE ratio of 28.79, a PEG ratio of 1.22 and a beta of 1.19.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.