Modus Advisors LLC Purchases 314 Shares of Meta Platforms, Inc. (NASDAQ:META)

Modus Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,917 shares of the social networking company’s stock after buying an additional 314 shares during the period. Modus Advisors LLC’s holdings in Meta Platforms were worth $2,293,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in META. Lindenwold Advisors INC raised its holdings in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the period. Central Valley Advisors LLC raised its stake in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC raised its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC lifted its stake in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Finally, Kozak & Associates Inc. grew its position in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of a number of analyst reports. KeyCorp increased their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group increased their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Barclays lifted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two 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 assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $642.88.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $1.15 on Friday, reaching $598.09. The stock had a trading volume of 2,881,789 shares, compared to its average volume of 7,386,771. Meta Platforms, Inc. has a 1 year low of $343.40 and a 1 year high of $638.40. The business’s 50 day moving average is $589.25 and its two-hundred day moving average is $548.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.51 trillion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $589.16, for a total value of $243,323.08. Following the completion of the sale, the chief operating officer now owns 17,514 shares of the company’s stock, valued at $10,318,548.24. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,116 shares of company stock valued at $198,171,544 in the last ninety days. 13.71% of the stock is currently owned by corporate 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.