FLC Capital Advisors Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

FLC Capital Advisors lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,875 shares of the social networking company’s stock after acquiring an additional 122 shares during the period. FLC Capital Advisors’ holdings in Meta Platforms were worth $2,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peterson Wealth Advisors LLC lifted its position in Meta Platforms by 1.9% during the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after buying an additional 28 shares in the last quarter. Edge Wealth Management LLC lifted its position in Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after buying an additional 28 shares in the last quarter. Curated Wealth Partners LLC raised its stake in shares of Meta Platforms by 1.8% during the fourth quarter. Curated Wealth Partners LLC now owns 1,602 shares of the social networking company’s stock valued at $567,000 after purchasing an additional 29 shares during the period. Courier Capital LLC raised its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Courier Capital LLC now owns 1,843 shares of the social networking company’s stock valued at $652,000 after purchasing an additional 31 shares during the period. Finally, SRS Capital Advisors Inc. raised its stake in shares of Meta Platforms by 1.1% during the third quarter. SRS Capital Advisors Inc. now owns 3,013 shares of the social networking company’s stock valued at $905,000 after purchasing an additional 32 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on META shares. TD Cowen lifted their price target on shares of Meta Platforms from $415.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Wedbush lifted their price target on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Guggenheim lifted their price target on shares of Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $425.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Canaccord Genuity Group lifted their price objective on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $496.35.

Meta Platforms Stock Down 1.7 %

Shares of NASDAQ META traded down $8.28 during trading hours on Thursday, hitting $485.58. The stock had a trading volume of 15,029,095 shares, compared to its average volume of 17,905,725. The company has a market capitalization of $1.24 trillion, a P/E ratio of 32.84, a P/E/G ratio of 1.28 and a beta of 1.21. The firm’s 50-day moving average price is $464.84 and its two-hundred day moving average price is $375.30. Meta Platforms, Inc. has a 52 week low of $202.54 and a 52 week high of $523.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. Analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. Meta Platforms’s payout ratio is currently 13.42%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $351.55, for a total transaction of $198,977.30. Following the completion of the sale, the insider now owns 36,984 shares of the company’s stock, valued at $13,001,725.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mark Zuckerberg sold 31,493 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $492.14, for a total transaction of $15,498,965.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $351.55, for a total value of $198,977.30. Following the completion of the transaction, the insider now owns 36,984 shares in the company, valued at approximately $13,001,725.20. The disclosure for this sale can be found here. Insiders sold 1,504,435 shares of company stock valued at $703,629,367 over the last 90 days. 13.75% of the stock is currently owned by company insiders.

About Meta Platforms

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.