Napa Wealth Management lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 56.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,323 shares of the social networking company's stock after selling 4,297 shares during the quarter. Meta Platforms accounts for about 0.8% of Napa Wealth Management's holdings, making the stock its 26th biggest position. Napa Wealth Management's holdings in Meta Platforms were worth $1,946,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Valley Financial Group Inc. lifted its stake in Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the last quarter. Seelaus Asset Management LLC increased its stake in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning raised its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares during the period. Maiden Cove Capital LLC lifted its stake in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC grew its holdings in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on META shares. Wells Fargo & Company cut their price objective on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Robert W. Baird raised their price target on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $696.45.
Check Out Our Latest Stock Report on Meta Platforms
Insider Buying and Selling at Meta Platforms
In related news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at $15,422,186.45. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total transaction of $453,012.27. Following the sale, the insider now directly owns 27,498 shares in the company, valued at $13,525,441.26. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,932 shares of company stock worth $69,021,252. 13.71% of the stock is currently owned by insiders.
Meta Platforms Price Performance
META stock traded up $3.33 during trading on Wednesday, reaching $659.36. 12,322,206 shares of the company were exchanged, compared to its average volume of 14,518,745. The company has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a 50-day moving average of $569.76 and a two-hundred day moving average of $605.94. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 earnings per share. The company's revenue was up 16.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is presently 8.19%.
Meta Platforms Profile
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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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