Jacobs & Co. CA Sells 2,425 Shares of Meta Platforms, Inc. (NASDAQ:META)

Jacobs & Co. CA reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,560 shares of the social networking company’s stock after selling 2,425 shares during the period. Meta Platforms comprises about 3.0% of Jacobs & Co. CA’s portfolio, making the stock its 5th biggest holding. Jacobs & Co. CA’s holdings in Meta Platforms were worth $29,603,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Heartwood Wealth Advisors LLC raised its position in Meta Platforms by 3.4% during the fourth quarter. Heartwood Wealth Advisors LLC now owns 962 shares of the social networking company’s stock worth $563,000 after acquiring an additional 32 shares during the period. LVM Capital Management Ltd. MI increased its stake in shares of Meta Platforms by 12.9% during the fourth quarter. LVM Capital Management Ltd. MI now owns 796 shares of the social networking company’s stock worth $466,000 after purchasing an additional 91 shares in the last quarter. Hilltop National Bank increased its stake in shares of Meta Platforms by 15.8% during the fourth quarter. Hilltop National Bank now owns 4,178 shares of the social networking company’s stock worth $2,446,000 after purchasing an additional 571 shares in the last quarter. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the 4th quarter worth about $41,000. Finally, ORG Partners LLC lifted its stake in Meta Platforms by 7.4% in the 4th quarter. ORG Partners LLC now owns 2,881 shares of the social networking company’s stock valued at $1,687,000 after buying an additional 198 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on META shares. Bank of America increased their price objective on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Mizuho increased their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Truist Financial boosted their target price on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Raymond James reissued a “strong-buy” rating and issued a $675.00 price objective on shares of Meta Platforms in a research report on Monday, November 25th. Two 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 presently has an average rating of “Moderate Buy” and a consensus price target of $646.90.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 410,536 shares of company stock worth $249,024,275. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Meta Platforms stock traded up $12.49 during midday trading on Friday, reaching $623.21. 14,627,602 shares of the company were exchanged, compared to its average volume of 12,528,432. The firm’s 50-day simple moving average is $592.65 and its 200-day simple moving average is $552.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.