Meta Platforms, Inc. (NASDAQ:META) is Aurora Private Wealth Inc.’s 10th Largest Position

Aurora Private Wealth Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,180 shares of the social networking company’s stock after selling 52 shares during the period. Meta Platforms comprises about 2.3% of Aurora Private Wealth Inc.’s portfolio, making the stock its 10th biggest position. Aurora Private Wealth Inc.’s holdings in Meta Platforms were worth $3,033,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter valued at approximately $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms during the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $687.00 on Friday. The stock has a fifty day moving average price of $611.00 and a 200 day moving average price of $564.44. Meta Platforms, Inc. has a 52 week low of $387.10 and a 52 week high of $710.79. The firm has a market capitalization of $1.73 trillion, a P/E ratio of 32.36, a PEG ratio of 1.18 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same period in the previous year, the firm earned $5.33 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Pivotal Research boosted their target price on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Monday. Bank of America boosted their price objective on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets raised their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $706.76.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 661,804 shares of company stock valued at $407,745,741. 13.71% of the stock is currently owned by company 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.