Axxcess Wealth Management LLC Has $27.48 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Axxcess Wealth Management LLC lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 46,939 shares of the social networking company’s stock after selling 3,461 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Meta Platforms were worth $27,484,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the 4th quarter worth about $41,000. Cordant Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $59,000. Finally, Bear Mountain Capital Inc. bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $70,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the company’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 622,844 shares of company stock worth $409,212,161. 13.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. KeyCorp lowered their target price on Meta Platforms from $750.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday. Susquehanna boosted their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Bank of America increased their target price on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $718.31.

Meta Platforms Stock Up 0.3 %

Meta Platforms stock opened at $586.00 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 firm has a 50 day moving average price of $655.77 and a 200-day moving average price of $604.56. The company has a market capitalization of $1.48 trillion, a P/E ratio of 24.50, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the firm earned $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

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.