Fragasso Financial Advisors Inc Has $7.50 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Fragasso Financial Advisors Inc trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,813 shares of the social networking company’s stock after selling 622 shares during the period. Meta Platforms comprises about 0.6% of Fragasso Financial Advisors Inc’s investment portfolio, making the stock its 23rd biggest position. Fragasso Financial Advisors Inc’s holdings in Meta Platforms were worth $7,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in META. Asset Allocation & Management Company LLC acquired a new stake in Meta Platforms during the fourth quarter worth $667,000. JTC Employer Solutions Trustee Ltd increased its stake in Meta Platforms by 54.4% in the fourth quarter. JTC Employer Solutions Trustee Ltd now owns 6,529 shares of the social networking company’s stock valued at $3,858,000 after acquiring an additional 2,300 shares during the period. Kieckhefer Group LLC acquired a new position in Meta Platforms in the fourth quarter worth about $162,000. Capital Investment Advisors LLC lifted its stake in Meta Platforms by 18.8% during the fourth quarter. Capital Investment Advisors LLC now owns 24,942 shares of the social networking company’s stock worth $14,604,000 after purchasing an additional 3,949 shares during the period. Finally, ACT Advisors LLC. lifted its holdings in shares of Meta Platforms by 8.9% during the fourth quarter. ACT Advisors LLC. now owns 1,116 shares of the social networking company’s stock valued at $654,000 after acquiring an additional 91 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the sale, the insider now directly owns 33,292 shares of the company’s stock, valued at $19,641,281.24. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms 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 $5,166,159.16. Following the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,357 shares of company stock worth $249,545,428 in the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 1.5 %

Shares of NASDAQ:META traded down $9.08 during midday trading on Monday, reaching $606.78. The company had a trading volume of 6,767,900 shares, compared to its average volume of 12,382,023. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $593.63 and its 200 day moving average price is $553.55. The stock has a market cap of $1.53 trillion, a PE ratio of 28.58, a P/E/G ratio of 1.36 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 announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Guggenheim raised their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. TD Cowen increased 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. Finally, Roth Mkm boosted their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $650.05.

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.