Romano Brothers AND Company Has $1.94 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Romano Brothers AND Company cut its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,315 shares of the social networking company’s stock after selling 31 shares during the quarter. Romano Brothers AND Company’s holdings in Meta Platforms were worth $1,941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in META. McElhenny Sheffield Capital Management LLC bought a new position in Meta Platforms during the fourth quarter worth about $205,000. Oak Ridge Investments LLC boosted its stake in Meta Platforms by 6.2% during the 4th quarter. Oak Ridge Investments LLC now owns 81,381 shares of the social networking company’s stock worth $47,649,000 after acquiring an additional 4,766 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in Meta Platforms by 7.1% during the fourth quarter. Aaron Wealth Advisors LLC now owns 11,624 shares of the social networking company’s stock valued at $6,806,000 after purchasing an additional 766 shares during the period. Whitaker Myers Wealth Managers LTD. increased its stake in Meta Platforms by 43.5% in the fourth quarter. Whitaker Myers Wealth Managers LTD. now owns 1,557 shares of the social networking company’s stock valued at $912,000 after purchasing an additional 472 shares in the last quarter. Finally, BNC Wealth Management LLC raised its holdings in Meta Platforms by 7.2% in the fourth quarter. BNC Wealth Management LLC now owns 15,335 shares of the social networking company’s stock worth $8,979,000 after purchasing an additional 1,033 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on META shares. KeyCorp upped their price objective on shares of Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Truist Financial boosted their price objective on Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. JMP Securities raised their target price on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a report on Thursday, January 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $651.27.

Check Out Our Latest Report on META

Meta Platforms Price Performance

Meta Platforms stock opened at $616.46 on Wednesday. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.16 and a beta of 1.19. The stock’s 50 day moving average is $598.00 and its 200-day moving average is $558.31. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $381.16 and a 12 month high of $638.40.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s payout ratio is presently 9.42%.

Insider Transactions at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the transaction, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 531,190 shares of company stock valued at $322,938,501. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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