Eley Financial Management Inc Sells 24 Shares of Meta Platforms, Inc. (NASDAQ:META)

Eley Financial Management Inc cut its position in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,486 shares of the social networking company’s stock after selling 24 shares during the quarter. Eley Financial Management Inc’s holdings in Meta Platforms were worth $1,234,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in META. Bluesphere Advisors LLC increased its stake in shares of Meta Platforms by 12.2% in the third quarter. Bluesphere Advisors LLC now owns 917 shares of the social networking company’s stock valued at $275,000 after buying an additional 100 shares during the period. Everence Capital Management Inc. lifted its holdings in shares of Meta Platforms by 8.1% in the 3rd quarter. Everence Capital Management Inc. now owns 61,580 shares of the social networking company’s stock worth $18,487,000 after purchasing an additional 4,590 shares in the last quarter. ERTS Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 5.5% in the 3rd quarter. ERTS Wealth Advisors LLC now owns 1,737 shares of the social networking company’s stock worth $521,000 after purchasing an additional 90 shares in the last quarter. Essex LLC lifted its holdings in shares of Meta Platforms by 36.2% in the 3rd quarter. Essex LLC now owns 5,375 shares of the social networking company’s stock worth $1,614,000 after purchasing an additional 1,429 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in Meta Platforms by 7.0% in the 3rd quarter. Capital Investment Advisors LLC now owns 8,044 shares of the social networking company’s stock valued at $2,415,000 after buying an additional 528 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,349,148 shares of company stock valued at $649,552,559. Insiders own 13.75% of the company’s stock.

Meta Platforms Stock Down 0.6 %

Shares of NASDAQ:META traded down $2.60 during mid-day trading on Friday, reaching $438.78. 21,227,998 shares of the stock were exchanged, compared to its average volume of 18,239,975. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.12 trillion, a P/E ratio of 25.21, a P/E/G ratio of 1.26 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49. The stock’s 50 day simple moving average is $495.08 and its 200-day simple moving average is $403.40.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.46%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on META shares. Raymond James decreased their price objective on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a report on Thursday. Wells Fargo & Company cut their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Citigroup dropped their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial dropped their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group decreased their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $509.18.

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.