Latitude Advisors LLC Has $1.45 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Latitude Advisors LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,476 shares of the social networking company’s stock after selling 66 shares during the quarter. Meta Platforms accounts for approximately 0.8% of Latitude Advisors LLC’s holdings, making the stock its 27th largest holding. Latitude Advisors LLC’s holdings in Meta Platforms were worth $1,450,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of META. International Assets Investment Management LLC increased its stake in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares during the period. Strategic Financial Concepts LLC increased its position in Meta Platforms by 87,269.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock worth $625,125,000 after acquiring an additional 1,066,437 shares during the period. World Investment Advisors LLC grew its position in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after purchasing an additional 890,434 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 902 shares of Meta Platforms stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the completion of the sale, the insider now owns 27,488 shares of the company’s stock, valued at $19,607,740.16. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders sold 751,033 shares of company stock valued at $480,911,671 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

META stock opened at $736.67 on Monday. The firm has a market cap of $1.87 trillion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The stock has a 50-day simple moving average of $638.73 and a 200-day simple moving average of $584.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

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, beating 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 period last year, the company earned $5.33 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio is 8.36%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on META shares. Monness Crespi & Hardt upped their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Royal Bank of Canada boosted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock 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 assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $717.90.

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.