Meta Platforms, Inc. (NASDAQ:META) is Fox Hill Wealth Management’s 9th Largest Position

Fox Hill Wealth Management lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,289 shares of the social networking company’s stock after selling 544 shares during the quarter. Meta Platforms makes up approximately 2.4% of Fox Hill Wealth Management’s portfolio, making the stock its 9th biggest position. Fox Hill Wealth Management’s holdings in Meta Platforms were worth $4,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Saiph Capital LLC lifted its stake in Meta Platforms by 29.6% in the fourth quarter. Saiph Capital LLC now owns 858 shares of the social networking company’s stock worth $502,000 after acquiring an additional 196 shares during the period. Brooklyn FI LLC lifted its stake in Meta Platforms by 6,288.6% in the fourth quarter. Brooklyn FI LLC now owns 35,712 shares of the social networking company’s stock worth $20,950,000 after acquiring an additional 35,153 shares during the period. ProVise Management Group LLC lifted its stake in Meta Platforms by 18.6% in the fourth quarter. ProVise Management Group LLC now owns 17,971 shares of the social networking company’s stock worth $10,522,000 after acquiring an additional 2,821 shares during the period. Xponance Inc. lifted its stake in Meta Platforms by 1.8% in the fourth quarter. Xponance Inc. now owns 550,091 shares of the social networking company’s stock worth $322,084,000 after acquiring an additional 9,738 shares during the period. Finally, OPTIMAS CAPITAL Ltd purchased a new stake in Meta Platforms in the fourth quarter worth $2,810,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.7 %

META stock opened at $596.25 on Friday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.51 trillion, a P/E ratio of 24.93, a PEG ratio of 1.42 and a beta of 1.23. The business’s 50-day moving average price is $655.38 and its 200-day moving average price is $605.08.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the company posted $5.33 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is currently 8.78%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the transaction, the insider now directly owns 32,103 shares of the company’s stock, valued at approximately $19,269,825.75. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the transaction, the chief operating officer now directly owns 20,935 shares in the company, valued at approximately $15,422,186.45. This represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 622,844 shares of company stock valued at $409,212,161. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Piper Sandler raised their price objective on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. UBS Group raised their price objective on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Argus set a $775.00 price objective on Meta Platforms in a research report on Tuesday, February 4th. Finally, Truist Financial raised their price objective on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $718.31.

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.