Litman Gregory Wealth Management LLC Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

Litman Gregory Wealth Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,734 shares of the social networking company’s stock after selling 1,115 shares during the quarter. Meta Platforms accounts for about 1.4% of Litman Gregory Wealth Management LLC’s holdings, making the stock its 18th largest position. Litman Gregory Wealth Management LLC’s holdings in Meta Platforms were worth $16,238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. AMF Tjanstepension AB boosted its stake in Meta Platforms by 32.5% during the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after buying an additional 112,047 shares during the period. City Holding Co. raised its holdings in shares of Meta Platforms by 1.8% in the 3rd quarter. City Holding Co. now owns 31,731 shares of the social networking company’s stock valued at $18,164,000 after acquiring an additional 576 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Meta Platforms by 15.6% during the 3rd quarter. Brookstone Capital Management now owns 47,358 shares of the social networking company’s stock valued at $27,110,000 after acquiring an additional 6,384 shares during the last quarter. Cape ANN Savings Bank grew its holdings in shares of Meta Platforms by 3.6% during the third quarter. Cape ANN Savings Bank now owns 2,712 shares of the social networking company’s stock worth $1,552,000 after purchasing an additional 95 shares in the last quarter. Finally, Gratus Wealth Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter worth about $713,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Scotiabank lifted their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Bank of America increased their target price on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $710.83.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $696.23, for a total transaction of $9,033,584.25. Following the sale, the chief executive officer now owns 197,996 shares in the company, valued at $137,850,755.08. This represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 700,241 shares of company stock valued at $434,752,368 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 0.1 %

NASDAQ META opened at $704.87 on Thursday. The firm has a market capitalization of $1.78 trillion, a PE ratio of 29.47, a P/E/G ratio of 1.47 and a beta of 1.20. The stock’s 50 day moving average is $621.57 and its 200 day moving average is $571.15. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $718.14. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm posted $5.33 EPS. Research analysts forecast that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 0.28%. Meta Platforms’s payout ratio is 8.36%.

Meta Platforms Company 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.