Northstar Advisory Group LLC Sells 3,059 Shares of Meta Platforms, Inc. $META

Northstar Advisory Group LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 40.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,562 shares of the social networking company’s stock after selling 3,059 shares during the period. Northstar Advisory Group LLC’s holdings in Meta Platforms were worth $3,011,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of META. State Street Corp lifted its holdings in shares of Meta Platforms by 1.9% in the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares during the last quarter. Capital World Investors grew its holdings in shares of Meta Platforms by 0.7% during the 3rd quarter. Capital World Investors now owns 39,247,690 shares of the social networking company’s stock valued at $28,823,375,000 after purchasing an additional 278,180 shares during the last quarter. Norges Bank acquired a new position in Meta Platforms during the 2nd quarter worth approximately $23,155,393,000. Invesco Ltd. increased its position in Meta Platforms by 0.8% during the 3rd quarter. Invesco Ltd. now owns 17,153,754 shares of the social networking company’s stock worth $12,597,374,000 after purchasing an additional 142,229 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Meta Platforms by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 14,332,168 shares of the social networking company’s stock valued at $10,525,258,000 after purchasing an additional 558,792 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 926 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $605.38, for a total transaction of $560,581.88. Following the completion of the sale, the chief operating officer directly owned 13,335 shares in the company, valued at $8,072,742.30. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert M. Kimmitt sold 580 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $632.02, for a total transaction of $366,571.60. Following the completion of the transaction, the director owned 4,427 shares in the company, valued at approximately $2,797,952.54. The trade was a 11.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 161,448 shares of company stock worth $103,333,788 over the last three months. 13.61% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of META opened at $574.46 on Friday. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The business has a 50-day moving average of $637.79 and a 200-day moving average of $659.88.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, March 16th. Meta Platforms’s dividend payout ratio is currently 8.94%.

Trending Headlines about Meta Platforms

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Analysts Set New Price Targets

A number of analysts have weighed in on META shares. DA Davidson boosted their target price on shares of Meta Platforms from $825.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Canaccord Genuity Group raised their price objective on Meta Platforms from $900.00 to $930.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Bank of America boosted their price objective on Meta Platforms from $810.00 to $885.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of Meta Platforms in a report on Tuesday, January 13th. Finally, Piper Sandler increased their target price on Meta Platforms from $840.00 to $880.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $843.57.

Check Out Our Latest Stock Analysis on META

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

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

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