Tandem Capital Management Corp ADV Sells 120 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tandem Capital Management Corp ADV cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,214 shares of the social networking company’s stock after selling 120 shares during the quarter. Meta Platforms accounts for 2.2% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 10th largest position. Tandem Capital Management Corp ADV’s holdings in Meta Platforms were worth $3,615,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in META. Stone House Investment Management LLC increased its position in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp increased its position in shares of Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Guggenheim dropped their target price on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research report on Thursday. Raymond James dropped their target price on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday. KeyCorp lowered their price objective on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Roth Mkm raised their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Trading Down 10.6 %

Shares of NASDAQ META traded down $52.12 during midday trading on Thursday, reaching $441.38. 82,642,094 shares of the stock were exchanged, compared to its average volume of 18,210,709. Meta Platforms, Inc. has a 52-week low of $208.88 and a 52-week high of $531.49. The stock has a 50 day moving average price of $495.08 and a 200-day moving average price of $403.40. The company has a market capitalization of $1.13 trillion, a P/E ratio of 29.62, a P/E/G ratio of 1.27 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $394.76, for a total transaction of $7,769,271.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total transaction of $228,664.00. Following the transaction, the insider now directly owns 34,720 shares of the company’s stock, valued at $14,026,880. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $394.76, for a total transaction of $7,769,271.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,368,829 shares of company stock valued at $657,321,830 over the last ninety days. Corporate insiders own 13.75% of the company’s stock.

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.