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Archvest Wealth Advisors Inc. lowered its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 91.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,454 shares of the social networking company’s stock after selling 15,718 shares during the period. Archvest Wealth Advisors Inc.’s holdings in Meta Platforms were worth $852,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in META. AMF Tjanstepension AB grew its position in shares of Meta Platforms by 32.5% in the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after purchasing an additional 112,047 shares during the period. Creative Planning grew its position in shares of Meta Platforms by 2.1% in the third quarter. Creative Planning now owns 716,847 shares of the social networking company’s stock valued at $410,352,000 after purchasing an additional 14,754 shares during the period. Stillwater Capital Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at $423,000. Roberts Wealth Advisors LLC grew its position in shares of Meta Platforms by 15.2% in the third quarter. Roberts Wealth Advisors LLC now owns 703 shares of the social networking company’s stock valued at $417,000 after purchasing an additional 93 shares during the period. Finally, Safeguard Financial LLC grew its position in shares of Meta Platforms by 51.9% in the third quarter. Safeguard Financial LLC now owns 673 shares of the social networking company’s stock valued at $385,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Insider Activity
In other Meta Platforms news, CFO Susan J. Li sold 18,644 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the completion of the transaction, the chief financial officer now directly owns 46,769 shares of the company’s stock, valued at $25,888,979.95. The trade was a 28.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 793,070 shares of company stock valued at $504,185,108. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Trading Up 0.4 %
Shares of NASDAQ META opened at $728.56 on Friday. The stock’s 50 day moving average price is $636.47 and its two-hundred day moving average price is $580.80. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $729.00. The stock has a market capitalization of $1.85 trillion, a P/E ratio of 30.46, a PEG ratio of 1.46 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the firm earned $5.33 earnings per share. On average, analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on META shares. Monness Crespi & Hardt boosted their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price target on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Pivotal Research boosted their price target on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Arete Research raised Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Finally, Tigress Financial boosted their price target on Meta Platforms from $645.00 to $935.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $717.90.
Read Our Latest Report on Meta Platforms
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.
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