Eley Financial Management Inc Reduces Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Eley Financial Management Inc lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,486 shares of the social networking company’s stock after selling 24 shares during the quarter. Eley Financial Management Inc’s holdings in Meta Platforms were worth $1,234,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC increased its stake in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. PayPay Securities Corp increased its stake in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms in the fourth quarter valued at $39,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the sale, the insider now directly owns 37,228 shares in the company, valued at $18,288,255. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock valued at $649,552,559 over the last 90 days. 13.75% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.6 %

NASDAQ META traded down $2.60 on Friday, hitting $438.78. 21,227,998 shares of the company were exchanged, compared to its average volume of 18,239,975. The company’s 50 day moving average price is $495.08 and its 200-day moving average price is $403.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. Analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Mizuho lifted their target price on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Bank of America upped their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Oppenheimer lowered their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday. Evercore ISI upped their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $509.18.

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.