FLC Capital Advisors Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

FLC Capital Advisors decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,914 shares of the social networking company’s stock after selling 230 shares during the quarter. Meta Platforms makes up approximately 1.1% of FLC Capital Advisors’ holdings, making the stock its 24th largest holding. FLC Capital Advisors’ holdings in Meta Platforms were worth $4,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of META. Fiera Capital Corp grew its position in Meta Platforms by 35.1% during the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock valued at $13,751,000 after acquiring an additional 7,089 shares during the period. Harmony Asset Management LLC grew its holdings in shares of Meta Platforms by 55.9% during the 2nd quarter. Harmony Asset Management LLC now owns 1,624 shares of the social networking company’s stock worth $819,000 after purchasing an additional 582 shares during the period. Nippon Life Global Investors Americas Inc. grew its holdings in shares of Meta Platforms by 6.2% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 90,060 shares of the social networking company’s stock worth $45,410,000 after purchasing an additional 5,250 shares during the period. J. Stern & Co. LLP raised its holdings in Meta Platforms by 4.2% in the second quarter. J. Stern & Co. LLP now owns 111,306 shares of the social networking company’s stock valued at $56,123,000 after buying an additional 4,487 shares during the period. Finally, Steel Grove Capital Advisors LLC lifted its position in Meta Platforms by 22.4% during the second quarter. Steel Grove Capital Advisors LLC now owns 2,095 shares of the social networking company’s stock valued at $1,056,000 after buying an additional 384 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $626.80, for a total value of $22,515,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 567,111 shares of company stock valued at $345,453,784 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $623.50 on Thursday. 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 firm has a market capitalization of $1.57 trillion, a PE ratio of 29.37, a P/E/G ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $382.08 and a 1-year high of $638.40. The business’s fifty day moving average price is $598.87 and its two-hundred day moving average price is $558.76.

Meta Platforms (NASDAQ:META) last released its quarterly 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 analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

META has been the topic of a number of research reports. Cantor Fitzgerald cut their target price on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday. TD Cowen boosted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Sanford C. Bernstein boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, JMP Securities increased their price objective on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research report on Thursday, January 2nd. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $652.98.

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.