Daymark Wealth Partners LLC Sells 1,753 Shares of Meta Platforms, Inc. (NASDAQ:META)

Daymark Wealth Partners LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.7% in the fourth quarter, Holdings Channel reports. The fund owned 11,035 shares of the social networking company’s stock after selling 1,753 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Meta Platforms were worth $6,461,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in META. International Assets Investment Management LLC grew its stake in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC grew its position in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Geode Capital Management LLC grew its position in Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after purchasing an additional 661,923 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 1.7 %

Shares of NASDAQ:META opened at $647.49 on Friday. The business’s 50 day moving average is $601.93 and its 200 day moving average is $560.12. Meta Platforms, Inc. has a 12-month low of $385.66 and a 12-month high of $652.00. The stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $40.21 billion. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid 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 0.31%. Meta Platforms’s payout ratio is presently 9.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. KeyCorp upped their price target on shares of Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Raymond James lifted their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Mizuho increased their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $654.20.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 568,016 shares of company stock valued at $346,031,180 over the last three months. Corporate insiders own 13.71% of the company’s stock.

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.