Fortress Wealth Management Inc. Sells 72 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fortress Wealth Management Inc. lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,458 shares of the social networking company’s stock after selling 72 shares during the quarter. Meta Platforms accounts for approximately 1.0% of Fortress Wealth Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Fortress Wealth Management Inc.’s holdings in Meta Platforms were worth $2,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JDM Financial Group LLC bought a new stake in Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter valued at approximately $41,000. Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter valued at $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $673.57, for a total transaction of $24,195,307.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 661,804 shares of company stock valued at $407,745,741. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. BMO Capital Markets lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research note on Thursday. Raymond James reaffirmed a “strong-buy” rating and issued a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a report on Thursday. Bank of America boosted their target price on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cantor Fitzgerald raised their price target on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $706.76.

Meta Platforms Trading Up 0.3 %

NASDAQ:META opened at $689.18 on Friday. The firm has a market capitalization of $1.74 trillion, a P/E ratio of 28.81, a P/E/G ratio of 1.35 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $613.60 and a 200 day moving average of $565.78. Meta Platforms, Inc. has a 52 week low of $387.10 and a 52 week high of $710.79.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 39.74%. During the same quarter in the prior year, the business earned $5.33 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 25.44 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.36%.

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.