Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,215 shares of the social networking company’s stock after selling 185 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Meta Platforms were worth $430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $3,622,000. McCarthy Asset Management Inc. increased its position in shares of Meta Platforms by 10.8% in the fourth quarter. McCarthy Asset Management Inc. now owns 1,438 shares of the social networking company’s stock worth $509,000 after acquiring an additional 140 shares in the last quarter. Mogy Joel R Investment Counsel Inc. increased its position in shares of Meta Platforms by 0.4% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 95,503 shares of the social networking company’s stock worth $33,804,000 after acquiring an additional 351 shares in the last quarter. Consolidated Planning Corp increased its position in shares of Meta Platforms by 3.0% in the fourth quarter. Consolidated Planning Corp now owns 10,744 shares of the social networking company’s stock worth $3,803,000 after acquiring an additional 308 shares in the last quarter. Finally, Intact Investment Management Inc. increased its position in shares of Meta Platforms by 2.2% in the fourth quarter. Intact Investment Management Inc. now owns 6,850 shares of the social networking company’s stock worth $2,425,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Guggenheim lowered their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday. Evercore ISI increased their price objective on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, UBS Group reduced their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total transaction of $287,381.25. Following the transaction, the insider now owns 37,228 shares of the company’s stock, valued at $18,288,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $501.18, for a total value of $245,578.20. Following the sale, the chief operating officer now owns 7,089 shares of the company’s stock, valued at $3,552,865.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares in the company, valued at approximately $18,288,255. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock valued at $649,552,559 over the last 90 days. 13.75% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.4 %

NASDAQ META traded up $1.91 during trading on Friday, reaching $443.29. The company’s stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.13 trillion, a PE ratio of 25.46, a PEG ratio of 1.12 and a beta of 1.20. The business has a 50-day moving average price of $494.48 and a 200-day moving average price of $404.27. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 20.33 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is 11.49%.

About Meta Platforms

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.