Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,300 shares of the social networking company’s stock after selling 2,378 shares during the period. Meta Platforms accounts for about 1.7% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 4th largest position. Oliver Luxxe Assets LLC’s holdings in Meta Platforms were worth $9,544,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in META. JDM Financial Group LLC purchased a new position in Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Halpern Financial Inc. purchased a new position in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. West Financial Advisors LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, Hoese & Co LLP lifted its stake in Meta Platforms by 2,000.0% in the 3rd quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock valued at $60,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on META. TD Cowen raised their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Mizuho raised their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. KeyCorp upped their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.80.

Meta Platforms Stock Up 3.7 %

Meta Platforms stock traded up $22.58 during midday trading on Monday, hitting $627.21. The stock had a trading volume of 9,981,197 shares, compared to its average volume of 11,163,614. 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 business has a fifty day moving average price of $589.88 and a 200 day moving average price of $549.56. Meta Platforms, Inc. has a 12 month low of $352.05 and a 12 month high of $638.40. The stock has a market cap of $1.58 trillion, a P/E ratio of 29.54, a P/E/G ratio of 1.39 and a beta of 1.19.

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

Meta Platforms Announces Dividend

The firm 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 dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total transaction of $535,542.80. Following the completion of the transaction, the insider now owns 32,915 shares in the company, valued at approximately $19,477,780.40. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction dated 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 completion of the sale, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,624 shares of company stock valued at $197,875,975 over the last quarter. Insiders own 13.71% of the company’s stock.

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.