FourThought Financial Partners LLC Has $6.18 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

FourThought Financial Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,554 shares of the social networking company’s stock after acquiring an additional 461 shares during the period. FourThought Financial Partners LLC’s holdings in Meta Platforms were worth $6,180,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $41,000. Cordant Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Meta Platforms during the third quarter valued at approximately $61,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $623.50, for a total value of $257,505.50. Following the transaction, the chief operating officer now owns 18,753 shares in the company, valued at approximately $11,692,495.50. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 796,712 shares of company stock worth $517,503,564. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Down 2.0 %

NASDAQ META opened at $655.05 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $654.28 and its two-hundred day simple moving average is $597.91. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.42 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced 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 return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the firm posted $5.33 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Robert W. Baird increased their price target on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Oppenheimer upped their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Argus set a $775.00 price target on shares of Meta Platforms in a research report on Tuesday, February 4th. BMO Capital Markets upped their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Citigroup increased their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

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.