Peak Financial Advisors LLC Lowers Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Peak Financial Advisors LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,264 shares of the social networking company’s stock after selling 56 shares during the period. Meta Platforms accounts for about 1.9% of Peak Financial Advisors LLC’s holdings, making the stock its 12th biggest position. Peak Financial Advisors LLC’s holdings in Meta Platforms were worth $3,668,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in META. Lindenwold Advisors INC increased its stake in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after buying an additional 17 shares during the period. Insight Wealth Strategies LLC grew its holdings in shares of Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC increased its stake in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. Finally, Alliance Wealth Advisors LLC boosted its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on META shares. Pivotal Research upped their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America raised 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. Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Piper Sandler upped their price objective on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Two 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Activity

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the sale, the chief operating officer now owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This trade 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. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.9 %

Shares of META stock opened at $611.30 on Friday. Meta Platforms, Inc. has a one year low of $358.61 and a one 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 stock has a fifty day moving average price of $595.92 and a 200 day moving average price of $555.25. The stock has a market cap of $1.54 trillion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 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 company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Meta Platforms Company 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.