TrueWealth Advisors LLC Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

TrueWealth Advisors LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 44.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 596 shares of the social networking company’s stock after selling 484 shares during the period. TrueWealth Advisors LLC’s holdings in Meta Platforms were worth $349,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in shares of Meta Platforms by 13.0% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 10,671 shares of the social networking company’s stock worth $6,248,000 after acquiring an additional 1,227 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Meta Platforms during the fourth quarter worth about $168,000. Brooklyn Investment Group increased its stake in shares of Meta Platforms by 4.1% in the fourth quarter. Brooklyn Investment Group now owns 9,222 shares of the social networking company’s stock valued at $5,399,000 after purchasing an additional 360 shares during the period. Defined Wealth Management LLC raised its stake in Meta Platforms by 5.7% during the 4th quarter. Defined Wealth Management LLC now owns 645 shares of the social networking company’s stock valued at $378,000 after acquiring an additional 35 shares in the last quarter. Finally, Sax Wealth Advisors LLC raised its stake in shares of Meta Platforms by 12.4% during the fourth quarter. Sax Wealth Advisors LLC now owns 4,712 shares of the social networking company’s stock valued at $2,759,000 after purchasing an additional 519 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 0.2 %

NASDAQ META opened at $612.77 on Monday. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 52 week low of $370.95 and a 52 week high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a fifty day moving average of $596.78 and a 200-day moving average of $557.04.

Meta Platforms (NASDAQ:META) last issued 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on META. Stifel Nicolaus boosted their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wolfe Research raised their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Citigroup lifted their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Roth Mkm upped their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Scotiabank cut their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Insiders Place Their Bets

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 496,174 shares of company stock worth $301,408,499. Corporate insiders own 13.71% of the company’s stock.

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.