Redhawk Wealth Advisors Inc. Sells 171 Shares of Meta Platforms, Inc. (NASDAQ:META)

Redhawk Wealth Advisors Inc. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,006 shares of the social networking company’s stock after selling 171 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Meta Platforms were worth $1,760,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC boosted its position in Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares in the last quarter. Cutter & CO Brokerage Inc. grew its stake in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after purchasing an additional 65 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Meta Platforms by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares in the last quarter. Finally, M&G PLC lifted its position in shares of Meta Platforms by 14.6% during the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock valued at $412,606,000 after buying an additional 91,773 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on META. Wolfe Research boosted their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Citigroup upped their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Raymond James reissued a “strong-buy” rating and issued a $675.00 price target on shares of Meta Platforms in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $611.30 on Friday. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 28.79, a PEG ratio of 1.22 and a beta of 1.19. The business has a 50 day simple moving average of $595.92 and a two-hundred day simple moving average of $555.25. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total value of $571,552.75. Following the completion of the sale, the insider now owns 32,010 shares of the company’s stock, valued at approximately $20,215,915.50. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was 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. In the last quarter, insiders sold 496,174 shares of company stock worth $301,408,499. Insiders own 13.71% of the company’s stock.

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.