Matrix Asset Advisors Inc. NY Sells 2,521 Shares of Meta Platforms, Inc. (NASDAQ:META)

Matrix Asset Advisors Inc. NY cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.2% during the fourth quarter, Holdings Channel reports. The fund owned 37,968 shares of the social networking company’s stock after selling 2,521 shares during the period. Meta Platforms makes up about 2.4% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 15th biggest position. Matrix Asset Advisors Inc. NY’s holdings in Meta Platforms were worth $22,231,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Revolve Wealth Partners LLC lifted its position in Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after buying an additional 875 shares in the last quarter. W Advisors LLC raised its stake in shares of Meta Platforms by 8.0% in the fourth quarter. W Advisors LLC now owns 1,558 shares of the social networking company’s stock worth $912,000 after acquiring an additional 116 shares during the last quarter. Charter Oak Capital Management LLC lifted its position in shares of Meta Platforms by 7.9% during the fourth quarter. Charter Oak Capital Management LLC now owns 547 shares of the social networking company’s stock worth $320,000 after purchasing an additional 40 shares in the last quarter. YHB Investment Advisors Inc. grew its stake in shares of Meta Platforms by 1.4% during the fourth quarter. YHB Investment Advisors Inc. now owns 14,000 shares of the social networking company’s stock valued at $8,197,000 after purchasing an additional 190 shares during the last quarter. Finally, Acorn Creek Capital LLC increased its holdings in shares of Meta Platforms by 6.6% in the fourth quarter. Acorn Creek Capital LLC now owns 2,019 shares of the social networking company’s stock valued at $1,182,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $666.00, for a total transaction of $602,730.00. Following the completion of the sale, the insider now directly owns 29,295 shares in the company, valued at approximately $19,510,470. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 661,804 shares of company stock valued at $407,745,741. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group increased their price objective on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. UBS Group raised their price target on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a report on Thursday. Roth Mkm boosted their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird raised their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Piper Sandler boosted their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $706.76.

Meta Platforms Trading Up 0.3 %

Shares of META stock opened at $689.18 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a fifty-two week low of $387.10 and a fifty-two week high of $710.79. The company has a market cap of $1.74 trillion, a PE ratio of 28.81, a P/E/G ratio of 1.35 and a beta of 1.19. The stock’s fifty day moving average price is $613.60 and its two-hundred day moving average price is $565.78.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same period in the previous year, the firm earned $5.33 EPS. Equities analysts predict that Meta Platforms, Inc. will post 25.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is 8.36%.

Meta Platforms 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.