Patten & Patten Inc. TN Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Patten & Patten Inc. TN lessened its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,175 shares of the social networking company’s stock after selling 281 shares during the quarter. Patten & Patten Inc. TN’s holdings in Meta Platforms were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in META. FAS Wealth Partners Inc. raised its holdings in shares of Meta Platforms by 2.8% during the 4th quarter. FAS Wealth Partners Inc. now owns 17,066 shares of the social networking company’s stock worth $6,041,000 after acquiring an additional 464 shares in the last quarter. Welch Group LLC grew its holdings in Meta Platforms by 34.6% during the fourth quarter. Welch Group LLC now owns 2,501 shares of the social networking company’s stock worth $885,000 after acquiring an additional 643 shares during the period. My Personal CFO LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth approximately $966,000. Bell Bank raised its position in Meta Platforms by 35.6% in the fourth quarter. Bell Bank now owns 7,930 shares of the social networking company’s stock valued at $2,807,000 after purchasing an additional 2,083 shares during the period. Finally, State of Michigan Retirement System raised its holdings in shares of Meta Platforms by 9.0% in the 4th quarter. State of Michigan Retirement System now owns 823,514 shares of the social networking company’s stock valued at $291,491,000 after buying an additional 67,900 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 1.2 %

NASDAQ:META opened at $497.37 on Wednesday. The firm has a market capitalization of $1.27 trillion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. The stock has a 50 day moving average of $473.50 and a 200-day moving average of $381.00. Meta Platforms, Inc. has a 52 week low of $207.13 and a 52 week high of $523.57. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.00 earnings per share. Analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,776 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $368.89, for a total value of $6,188,498.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,776 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $368.89, for a total value of $6,188,498.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total value of $295,594.65. Following the completion of the sale, the insider now owns 39,568 shares of the company’s stock, valued at $19,993,314.72. The disclosure for this sale can be found here. Insiders sold 1,502,805 shares of company stock valued at $703,056,383 in the last three months. 14.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Canaccord Genuity Group upped their price objective on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wedbush increased their target price on Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Oppenheimer increased their target price on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Piper Sandler raised their price objective on Meta Platforms from $415.00 to $525.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Guggenheim raised their price objective on Meta Platforms from $380.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $496.35.

Check Out Our Latest Stock Report on META

Meta Platforms Profile

(Free Report)

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.

See Also

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

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