Salvus Wealth Management LLC Has $583,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Salvus Wealth Management LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 995 shares of the social networking company’s stock after selling 139 shares during the period. Salvus Wealth Management LLC’s holdings in Meta Platforms were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Sanford C. Bernstein raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price objective on Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock worth $301,408,499 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $612.77 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 firm’s fifty day simple moving average is $596.78 and its two-hundred day simple moving average is $556.39. Meta Platforms, Inc. has a 12 month low of $370.95 and a 12 month high of $638.40. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

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

Meta Platforms Announces Dividend

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

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.