Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Trust Asset Management LLC

Trust Asset Management LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,665 shares of the social networking company’s stock after selling 214 shares during the period. Meta Platforms comprises approximately 0.9% of Trust Asset Management LLC’s holdings, making the stock its 13th largest position. Trust Asset Management LLC’s holdings in Meta Platforms were worth $9,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. WoodTrust Financial Corp grew its holdings in Meta Platforms by 1.8% during the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after buying an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners grew its holdings in Meta Platforms by 0.6% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after buying an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC grew its holdings in Meta Platforms by 1.9% during the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after buying an additional 28 shares in the last quarter. Edge Wealth Management LLC grew its holdings in Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after buying an additional 28 shares in the last quarter. Finally, Yarger Wealth Strategies LLC grew its holdings in Meta Platforms by 4.0% during the fourth quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after buying an additional 28 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on META shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. Roth Mkm upped their price objective on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and issued a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday. Mizuho upped their price objective on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Tigress Financial upped their price objective on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $509.18.

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $394.76, for a total value of $7,769,271.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $394.76, for a total transaction of $7,769,271.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,368,829 shares of company stock worth $657,321,830. 13.75% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 10.6 %

META traded down $52.12 during trading on Thursday, hitting $441.38. 82,642,094 shares of the stock were exchanged, compared to its average volume of 18,210,709. The firm has a 50 day simple moving average of $495.08 and a 200 day simple moving average of $403.40. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 1.27 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $208.88 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.45%. Meta Platforms’s payout ratio is currently 13.42%.

Meta Platforms Company 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.