Abacus Planning Group Inc. Has $1.35 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Abacus Planning Group Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.5% during the fourth quarter, Holdings Channel reports. The firm owned 3,819 shares of the social networking company’s stock after selling 222 shares during the quarter. Abacus Planning Group Inc.’s holdings in Meta Platforms were worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Peterson Wealth Advisors LLC raised its stake in shares of Meta Platforms by 1.9% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after purchasing an additional 28 shares during the last quarter. Edge Wealth Management LLC grew its stake in shares of Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after buying an additional 28 shares during the last quarter. Yarger Wealth Strategies LLC grew its stake in shares of Meta Platforms by 4.0% in the fourth quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after purchasing an additional 28 shares during the last quarter. Curated Wealth Partners LLC grew its stake in shares of Meta Platforms by 1.8% in the fourth quarter. Curated Wealth Partners LLC now owns 1,602 shares of the social networking company’s stock worth $567,000 after purchasing an additional 29 shares during the last quarter. Finally, Courier Capital LLC grew its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Courier Capital LLC now owns 1,843 shares of the social networking company’s stock worth $652,000 after purchasing an additional 31 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 1.7 %

Shares of Meta Platforms stock opened at $485.58 on Friday. The company has a market capitalization of $1.24 trillion, a P/E ratio of 32.59, a P/E/G ratio of 1.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a fifty day moving average of $469.07 and a 200 day moving average of $377.83. Meta Platforms, Inc. has a fifty-two week low of $202.54 and a fifty-two week high of $523.57.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.00 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 19.94 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 13.42%.

Analysts Set New Price Targets

Several analysts have weighed in on META shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Guggenheim lifted their price objective on Meta Platforms from $380.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $420.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Piper Sandler lifted their target price on shares of Meta Platforms from $415.00 to $525.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $435.00 to $535.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $496.35.

Get Our Latest Stock Analysis on Meta Platforms

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $351.47, for a total transaction of $6,917,281.07. The disclosure for this sale can be found here. Insiders have sold a total of 1,504,435 shares of company stock worth $703,629,367 in the last 90 days. 13.75% of the stock is currently owned by corporate insiders.

Meta Platforms Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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