Lbmc Investment Advisors LLC Sells 53 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lbmc Investment Advisors LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 5,614 shares of the social networking company’s stock after selling 53 shares during the period. Lbmc Investment Advisors LLC’s holdings in Meta Platforms were worth $3,287,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of META. Fiera Capital Corp grew its stake in Meta Platforms by 35.1% in the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock valued at $13,751,000 after buying an additional 7,089 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its stake in shares of Meta Platforms by 19.0% during the second quarter. Evolutionary Tree Capital Management LLC now owns 6,391 shares of the social networking company’s stock worth $3,222,000 after purchasing an additional 1,022 shares during the period. Kowal Investment Group LLC lifted its holdings in Meta Platforms by 14.6% during the 2nd quarter. Kowal Investment Group LLC now owns 4,580 shares of the social networking company’s stock worth $2,310,000 after purchasing an additional 585 shares during the last quarter. Circle Wealth Management LLC grew its holdings in Meta Platforms by 41.1% in the 2nd quarter. Circle Wealth Management LLC now owns 14,603 shares of the social networking company’s stock valued at $7,363,000 after buying an additional 4,254 shares in the last quarter. Finally, Holderness Investments Co. increased its position in Meta Platforms by 3.4% during the 2nd quarter. Holderness Investments Co. now owns 5,265 shares of the social networking company’s stock worth $2,655,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now owns 10,707 shares in the company, valued at $6,147,531.12. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms 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 sale, the insider now directly owns 31,482 shares of the company’s stock, valued at approximately $18,262,708.20. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 531,190 shares of company stock valued at $322,938,501. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on META. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Robert W. Baird raised their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price target on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Piper Sandler raised their price objective on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Pivotal Research upped their target price on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $651.27.

View Our Latest Report on META

Meta Platforms Trading Up 0.6 %

Shares of META stock opened at $616.46 on Wednesday. Meta Platforms, Inc. has a 1-year low of $381.16 and a 1-year high of $638.40. 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 stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.16 and a beta of 1.19. The stock has a 50-day moving average of $598.00 and a 200-day moving average of $558.31.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s payout ratio is currently 9.42%.

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.

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

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