Meta Platforms, Inc. (NASDAQ:META) is Mount Vernon Associates Inc. MD’s 6th Largest Position

Mount Vernon Associates Inc. MD cut its position in Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,595 shares of the social networking company’s stock after selling 24 shares during the quarter. Meta Platforms comprises 6.2% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its 6th biggest position. Mount Vernon Associates Inc. MD’s holdings in Meta Platforms were worth $7,960,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of META. Presilium Private Wealth LLC grew its holdings in shares of Meta Platforms by 3.9% during the fourth quarter. Presilium Private Wealth LLC now owns 901 shares of the social networking company’s stock worth $527,000 after purchasing an additional 34 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in Meta Platforms by 3.8% in the 4th quarter. Wolff Wiese Magana LLC now owns 2,712 shares of the social networking company’s stock worth $1,588,000 after buying an additional 99 shares in the last quarter. Caldwell Investment Management Ltd. purchased a new position in Meta Platforms in the 4th quarter worth approximately $1,594,000. Wiser Wealth Management Inc increased its holdings in shares of Meta Platforms by 24.6% in the 4th quarter. Wiser Wealth Management Inc now owns 765 shares of the social networking company’s stock worth $448,000 after buying an additional 151 shares during the last quarter. Finally, Apella Capital LLC lifted its holdings in shares of Meta Platforms by 9.4% during the 4th quarter. Apella Capital LLC now owns 2,532 shares of the social networking company’s stock worth $1,483,000 after acquiring an additional 217 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In related news, insider Nicholas Clegg sold 1,131 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $652,767.96. Following the completion of the sale, the insider now owns 1,229 shares of the company’s stock, valued at $709,329.64. This trade represents a 47.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the completion of the transaction, the insider now owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. The trade was a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock valued at $301,408,499 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.9 %

NASDAQ:META opened at $611.30 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm’s 50-day moving average price is $595.92 and its 200-day moving average price is $555.25. The company has a market capitalization of $1.54 trillion, a PE ratio of 28.79, a P/E/G ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $358.61 and a 1-year high of $638.40.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. 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%.

Wall Street Analyst Weigh In

A number of research firms recently commented on META. Citigroup increased their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, four have issued 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $650.05.

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.