Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,699 shares of the social networking company’s stock after selling 272 shares during the quarter. Meta Platforms makes up approximately 1.9% of Tealwood Asset Management Inc.’s portfolio, making the stock its 3rd largest position. Tealwood Asset Management Inc.’s holdings in Meta Platforms were worth $4,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiera Capital Corp boosted its holdings in shares of Meta Platforms by 35.1% during 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 period. Valley Wealth Managers Inc. boosted its holdings in shares of Meta Platforms by 31.0% during the second quarter. Valley Wealth Managers Inc. now owns 1,047 shares of the social networking company’s stock worth $528,000 after purchasing an additional 248 shares during the period. RS Crum Inc. boosted its holdings in shares of Meta Platforms by 11.1% during the second quarter. RS Crum Inc. now owns 1,062 shares of the social networking company’s stock worth $536,000 after purchasing an additional 106 shares during the period. Client 1ST Advisory Group LLC boosted its holdings in shares of Meta Platforms by 6.2% during the second quarter. Client 1ST Advisory Group LLC now owns 2,187 shares of the social networking company’s stock worth $1,103,000 after purchasing an additional 127 shares during the period. Finally, SYM FINANCIAL Corp boosted its holdings in shares of Meta Platforms by 52.1% during the second quarter. SYM FINANCIAL Corp now owns 2,251 shares of the social networking company’s stock worth $1,135,000 after purchasing an additional 771 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the sale, the insider now owns 32,387 shares in the company, valued at approximately $18,612,808.90. The trade was a 2.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 423,427 shares of company stock worth $256,996,450 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 2.3 %

Shares of META stock opened at $594.25 on Wednesday. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The firm’s fifty day simple moving average is $595.02 and its 200 day simple moving average is $554.81. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS 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 paid 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 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wolfe Research raised their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Barclays raised their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Bank of America raised their price objective on shares of Meta Platforms from $630.00 to $660.00 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 assigned 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, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.