Intelligence Driven Advisers LLC Has $1.47 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Intelligence Driven Advisers LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,506 shares of the social networking company’s stock after selling 31 shares during the period. Intelligence Driven Advisers LLC’s holdings in Meta Platforms were worth $1,467,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. MGB Wealth Management LLC raised its stake in shares of Meta Platforms by 34.0% in the fourth quarter. MGB Wealth Management LLC now owns 1,166 shares of the social networking company’s stock valued at $684,000 after purchasing an additional 296 shares in the last quarter. Morris Financial Concepts Inc. raised its stake in shares of Meta Platforms by 2.1% in the 4th quarter. Morris Financial Concepts Inc. now owns 1,088 shares of the social networking company’s stock valued at $637,000 after buying an additional 22 shares in the last quarter. Howard Bailey Securities LLC lifted its holdings in shares of Meta Platforms by 19.9% during the 4th quarter. Howard Bailey Securities LLC now owns 602 shares of the social networking company’s stock worth $352,000 after acquiring an additional 100 shares during the period. Hemington Wealth Management boosted its position in shares of Meta Platforms by 11.0% during the 4th quarter. Hemington Wealth Management now owns 1,973 shares of the social networking company’s stock valued at $1,155,000 after acquiring an additional 196 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its stake in Meta Platforms by 7.3% in the fourth quarter. Stanley Laman Group Ltd. now owns 1,964 shares of the social networking company’s stock valued at $1,150,000 after acquiring an additional 133 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META opened at $703.77 on Thursday. The company has a fifty day moving average price of $644.55 and a two-hundred day moving average price of $588.38. The firm has a market capitalization of $1.78 trillion, a PE ratio of 29.42, a P/E/G ratio of 1.51 and a beta of 1.20. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. 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 (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned $5.33 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is 8.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on META shares. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. UBS Group raised their target price on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Barclays lifted their price objective on Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $717.90.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the firm’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 810,217 shares of company stock worth $523,808,864 in the last ninety days. Company insiders own 13.71% of the company’s stock.

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.