Truvestments Capital LLC Sells 40 Shares of Meta Platforms, Inc. (NASDAQ:META)

Truvestments Capital LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,608 shares of the social networking company’s stock after selling 40 shares during the period. Truvestments Capital LLC’s holdings in Meta Platforms were worth $942,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in shares of Meta Platforms in the 4th quarter worth $4,857,000. Hopwood Financial Services Inc. bought a new position in shares of Meta Platforms in the 4th quarter worth $76,000. Farther Finance Advisors LLC lifted its holdings in shares of Meta Platforms by 9.4% in the 4th quarter. Farther Finance Advisors LLC now owns 22,703 shares of the social networking company’s stock worth $13,293,000 after purchasing an additional 1,950 shares in the last quarter. Parkworth Wealth Management Inc. bought a new position in shares of Meta Platforms in the 4th quarter worth $79,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 4.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 16,360 shares of the social networking company’s stock worth $9,579,000 after purchasing an additional 708 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on META. Raymond James reiterated a “strong-buy” rating and issued a $800.00 target price (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Oppenheimer increased their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. DA Davidson increased their price target on Meta Platforms from $700.00 to $800.00 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, Wolfe Research increased their price target on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $719.26.

Meta Platforms Stock Up 2.9 %

Shares of NASDAQ META opened at $607.60 on Monday. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The business has a 50-day simple moving average of $658.01 and a two-hundred day simple moving average of $603.80. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.54 trillion, a P/E ratio of 25.40, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $5.33 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is presently 8.78%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 22,035 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $618.63, for a total transaction of $13,631,512.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $626.66, for a total value of $567,127.30. Following the completion of the sale, the insider now directly owns 34,725 shares of the company’s stock, valued at approximately $21,760,768.50. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 654,355 shares of company stock valued at $428,564,164. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.