Portland Financial Advisors Inc Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Portland Financial Advisors Inc bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 364 shares of the social networking company’s stock, valued at approximately $213,000.

Several other hedge funds have also recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management bought a new stake in Meta Platforms during the fourth quarter worth about $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $59,000. Finally, Reston Wealth Management LLC bought a new position in shares of Meta Platforms in the third quarter valued at approximately $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total value of $613,155.75. Following the sale, the insider now owns 34,866 shares of the company’s stock, valued at $23,212,039.50. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $589.16, for a total transaction of $243,323.08. Following the transaction, the chief operating officer now owns 17,514 shares of the company’s stock, valued at $10,318,548.24. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 813,538 shares of company stock worth $526,326,729. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.5 %

Shares of META stock opened at $668.20 on Monday. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-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 firm has a fifty day moving average of $653.18 and a 200-day moving average of $597.08. The company has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.42 and a beta of 1.20.

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, topping 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 firm posted $5.33 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group increased their price target on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Raymond James restated a “strong-buy” rating and set a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Wells Fargo & Company lifted their price target on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Pivotal Research increased their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Two research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $719.26.

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.