White Pine Investment CO Sells 274 Shares of Meta Platforms, Inc. (NASDAQ:META)

White Pine Investment CO trimmed its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,253 shares of the social networking company’s stock after selling 274 shares during the period. Meta Platforms accounts for about 2.7% of White Pine Investment CO’s holdings, making the stock its 9th biggest holding. White Pine Investment CO’s holdings in Meta Platforms were worth $10,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Capstone Wealth Management LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $331,000. Verum Partners LLC boosted its holdings in shares of Meta Platforms by 5.4% during the 4th quarter. Verum Partners LLC now owns 644 shares of the social networking company’s stock worth $377,000 after purchasing an additional 33 shares during the last quarter. Perfromance Wealth Partners LLC grew its position in shares of Meta Platforms by 2.2% in the fourth quarter. Perfromance Wealth Partners LLC now owns 59,425 shares of the social networking company’s stock valued at $34,794,000 after purchasing an additional 1,307 shares in the last quarter. Oxinas Partners Wealth Management LLC increased its holdings in shares of Meta Platforms by 54.3% in the fourth quarter. Oxinas Partners Wealth Management LLC now owns 2,673 shares of the social networking company’s stock valued at $1,565,000 after purchasing an additional 941 shares during the last quarter. Finally, Octavia Wealth Advisors LLC lifted its position in Meta Platforms by 0.6% during the fourth quarter. Octavia Wealth Advisors LLC now owns 4,653 shares of the social networking company’s stock worth $2,724,000 after buying an additional 29 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Meta Platforms stock opened at $647.49 on Friday. 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 company has a fifty day simple moving average of $601.93 and a 200-day simple moving average of $560.12. The stock has a market cap of $1.63 trillion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 12-month low of $385.66 and a 12-month high of $652.00.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Equities analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.31%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the transaction, the insider now owns 31,482 shares of the company’s stock, valued at $18,262,708.20. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,016 shares of company stock valued at $346,031,180. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on META. BMO Capital Markets raised their target price on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. KeyCorp lifted their target price on shares of Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Roth Mkm increased their price target 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. Cantor Fitzgerald reduced their price target on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Bank of America increased their price objective on Meta Platforms from $660.00 to $710.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $654.20.

View Our Latest Research Report on META

About Meta Platforms

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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