Towerpoint Wealth LLC Sells 180 Shares of Meta Platforms, Inc. (NASDAQ:META)

Towerpoint Wealth LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 33.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355 shares of the social networking company’s stock after selling 180 shares during the period. Towerpoint Wealth LLC’s holdings in Meta Platforms were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Fiera Capital Corp lifted its stake in Meta Platforms by 35.1% in the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after purchasing an additional 7,089 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of Meta Platforms by 5.0% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 877 shares of the social networking company’s stock worth $442,000 after acquiring an additional 42 shares during the last quarter. GDS Wealth Management boosted its holdings in Meta Platforms by 11.5% during the 2nd quarter. GDS Wealth Management now owns 23,107 shares of the social networking company’s stock valued at $11,651,000 after acquiring an additional 2,391 shares during the period. Primecap Management Co. CA grew its position in Meta Platforms by 2.5% in the 2nd quarter. Primecap Management Co. CA now owns 706,450 shares of the social networking company’s stock valued at $356,206,000 after acquiring an additional 17,225 shares during the last quarter. Finally, DHK Financial Advisors Inc. purchased a new stake in Meta Platforms in the second quarter worth $252,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $612.77 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company’s fifty day moving average price is $596.78 and its 200-day moving average price is $556.39. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40. The firm has a market capitalization of $1.55 trillion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.22 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 for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. On average, equities research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total value of $520,103.50. Following the completion of the transaction, the insider now owns 32,387 shares of the company’s stock, valued at $18,612,808.90. The trade was a 2.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock valued at $301,408,499 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on META shares. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. JMP Securities upped their target price on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 2nd. Robert W. Baird lifted their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wedbush increased their price objective on Meta Platforms from $640.00 to $680.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, Citigroup raised their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

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.