Fairhaven Wealth Management LLC Has $230,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Fairhaven Wealth Management LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.0% in the 4th quarter, HoldingsChannel reports. The fund owned 393 shares of the social networking company’s stock after selling 25 shares during the period. Fairhaven Wealth Management LLC’s holdings in Meta Platforms were worth $230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the 4th quarter valued at approximately $41,000. Cordant Inc. acquired a new position in Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $61,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $655.05 on Tuesday. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a 50-day simple moving average of $654.28 and a 200 day simple moving average of $597.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $1.66 trillion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the firm earned $5.33 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently announced 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. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 902 shares of Meta Platforms stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total value of $643,414.64. Following the completion of the transaction, the insider now owns 27,488 shares in the company, valued at $19,607,740.16. This trade represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares of the company’s stock, valued at $15,422,186.45. The trade was a 18.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 796,712 shares of company stock worth $517,503,564 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on META shares. JMP Securities restated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Piper Sandler increased their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Barclays increased their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $719.26.

About Meta Platforms

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.