Heritage Financial Services LLC Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Heritage Financial Services LLC cut its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 15.6% in the fourth quarter, Holdings Channel reports. The firm owned 553 shares of the social networking company’s stock after selling 102 shares during the period. Heritage Financial Services LLC’s holdings in Meta Platforms were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC raised its position in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC grew its stake in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Geode Capital Management LLC raised its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Finally, National Pension Service lifted its stake in Meta Platforms by 14.6% in the 3rd quarter. National Pension Service now owns 4,318,046 shares of the social networking company’s stock worth $2,471,822,000 after purchasing an additional 550,852 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $696.39, for a total transaction of $9,035,660.25. Following the completion of the transaction, the chief executive officer now owns 210,971 shares of the company’s stock, valued at $146,918,094.69. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 673,878 shares of company stock worth $416,269,904 over the last 90 days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on META shares. Royal Bank of Canada upped their target price on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group lifted their target price on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Guggenheim raised their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $710.83.

Read Our Latest Analysis on Meta Platforms

Meta Platforms Stock Up 1.2 %

Shares of NASDAQ:META opened at $697.46 on Tuesday. The company has a 50 day moving average of $616.25 and a two-hundred day moving average of $568.60. The company has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $710.79. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced 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 of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.36%.

Meta Platforms 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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