SYM FINANCIAL Corp Sells 2,145 Shares of Meta Platforms, Inc. $META

SYM FINANCIAL Corp cut its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 29.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,257 shares of the social networking company’s stock after selling 2,145 shares during the quarter. Meta Platforms accounts for about 0.4% of SYM FINANCIAL Corp’s investment portfolio, making the stock its 22nd largest holding. SYM FINANCIAL Corp’s holdings in Meta Platforms were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after acquiring an additional 875 shares in the last quarter. Headwater Capital Co Ltd lifted its stake in Meta Platforms by 294.7% in the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after acquiring an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in Meta Platforms in the second quarter valued at $213,000. Finally, Capital & Planning LLC bought a new position in Meta Platforms in the 2nd quarter worth $322,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META stock opened at $661.46 on Friday. The stock’s 50 day simple moving average is $656.76 and its 200 day simple moving average is $695.12. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The stock has a market capitalization of $1.67 trillion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.28.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm had revenue of $59.89 billion for the quarter, compared to the consensus estimate of $58.33 billion. During the same period in the prior year, the company posted $8.02 earnings per share. The company’s quarterly revenue was up 23.8% on a year-over-year basis. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were paid a $0.525 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s payout ratio is currently 8.94%.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 6,875 shares of Meta Platforms stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $4,190,037.50. Following the completion of the sale, the chief financial officer owned 88,370 shares of the company’s stock, valued at approximately $53,857,980.20. The trade was a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 2,610 shares of the business’s stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the sale, the chief operating officer owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,594 shares of company stock valued at $24,325,407 over the last three months. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Rothschild & Co Redburn set a $900.00 target price on shares of Meta Platforms in a research note on Monday, January 26th. Wells Fargo & Company raised their target price on Meta Platforms from $754.00 to $849.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $810.00 price objective on shares of Meta Platforms in a research report on Thursday, January 29th. Piper Sandler upped their target price on shares of Meta Platforms from $840.00 to $880.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Finally, BNP Paribas Exane assumed coverage on shares of Meta Platforms in a research note on Monday, November 24th. They set an “outperform” rating and a $800.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $847.40.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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

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