True Vision MN LLC Sells 26 Shares of Meta Platforms, Inc. (NASDAQ:META)

True Vision MN LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 746 shares of the social networking company’s stock after selling 26 shares during the quarter. True Vision MN LLC’s holdings in Meta Platforms were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

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

Meta Platforms Price Performance

Shares of META stock opened at $736.67 on Monday. The stock’s fifty day moving average is $638.73 and its 200-day moving average is $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 52 week low of $414.50 and a 52 week high of $740.91. The stock has a market capitalization of $1.87 trillion, a PE ratio of 30.80, a PEG ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the firm posted $5.33 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 26.66 EPS for the current fiscal year.

Meta Platforms Increases Dividend

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

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares in the company, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 751,033 shares of company stock worth $480,911,671. 13.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on META shares. KeyCorp lifted their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Roth Mkm increased their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Tigress Financial increased their target price on Meta Platforms from $645.00 to $935.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 11th. Wolfe Research increased their target price on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Scotiabank increased their price objective on Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $717.90.

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.