Elm3 Financial Group LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Elm3 Financial Group LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 599 shares of the social networking company’s stock, valued at approximately $351,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JDM Financial Group LLC bought a new position in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the 4th quarter valued at about $41,000. Cordant Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC bought a new stake in Meta Platforms during the 3rd quarter worth approximately $61,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 756,735 shares of company stock valued at $475,285,232 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.3 %

NASDAQ META opened at $719.80 on Wednesday. The business has a fifty day moving average price of $631.85 and a two-hundred day moving average price of $578.74. The stock has a market capitalization of $1.82 trillion, a PE ratio of 30.09, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $725.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the company posted $5.33 earnings per share. Equities analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is 8.36%.

Wall Street Analyst Weigh In

META has been the subject of a number of research reports. Citigroup increased their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. BMO Capital Markets raised their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Oppenheimer boosted their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group raised their price objective on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley upped their target price on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two investment 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $717.90.

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.