Dynamic Advisor Solutions LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

Dynamic Advisor Solutions LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 33,126 shares of the social networking company’s stock after selling 3,418 shares during the period. Meta Platforms comprises about 0.8% of Dynamic Advisor Solutions LLC’s holdings, making the stock its 25th biggest position. Dynamic Advisor Solutions LLC’s holdings in Meta Platforms were worth $19,396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the fourth quarter valued at approximately $41,000. Halpern Financial Inc. purchased a new stake in Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $644.76, for a total value of $23,160,423.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the firm’s 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 directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 602,612 shares of company stock worth $368,414,542. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $674.33 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $1.70 trillion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The stock’s 50-day moving average is $606.30 and its two-hundred day moving average is $562.78. Meta Platforms, Inc. has a 1-year low of $387.10 and a 1-year high of $682.58.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

A number of brokerages recently issued reports on META. The Goldman Sachs Group increased their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Scotiabank dropped their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research report on Monday. Pivotal Research boosted their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein increased their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $654.20.

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.