Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Fi3 FINANCIAL ADVISORS LLC

Fi3 FINANCIAL ADVISORS LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,291 shares of the social networking company’s stock after selling 44 shares during the quarter. Meta Platforms comprises about 0.7% of Fi3 FINANCIAL ADVISORS LLC’s investment portfolio, making the stock its 22nd biggest position. Fi3 FINANCIAL ADVISORS LLC’s holdings in Meta Platforms were worth $1,927,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $40,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter worth $41,000. Finally, Cordant Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.7 %

NASDAQ:META opened at $596.25 on Monday. The company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The stock has a 50-day simple moving average of $655.38 and a 200 day simple moving average of $606.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $5.33 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors 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 0.35%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the transaction, the insider now directly owns 32,103 shares in the company, valued at approximately $19,269,825.75. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 622,431 shares of company stock worth $408,968,491. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Robert W. Baird increased their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Oppenheimer increased their price target on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target on the stock in a research note on Thursday, January 30th. Finally, DA Davidson increased their price target on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

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.