Oliver Luxxe Assets LLC Sells 2,378 Shares of Meta Platforms, Inc. (NASDAQ:META)

Oliver Luxxe Assets LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,300 shares of the social networking company’s stock after selling 2,378 shares during the quarter. Meta Platforms accounts for about 1.7% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 4th largest holding. Oliver Luxxe Assets LLC’s holdings in Meta Platforms were worth $9,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the 3rd quarter worth $36,000. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter worth $46,000. West Financial Advisors LLC purchased a new position in Meta Platforms during the third quarter valued at $49,000. Finally, Hoese & Co LLP increased its stake in shares of Meta Platforms by 2,000.0% during the third quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock worth $60,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $589.89, for a total value of $533,850.45. Following the transaction, the insider now directly owns 34,197 shares of the company’s stock, valued at $20,172,468.33. This trade represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the sale, the insider now directly owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,624 shares of company stock worth $197,875,975 over the last three months. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on META. Mizuho boosted their price objective on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Roth Mkm increased their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays raised their price objective on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler upped their target price on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $645.80.

Meta Platforms Stock Up 3.7 %

NASDAQ META traded up $22.58 on Monday, hitting $627.21. 9,981,197 shares of the stock were exchanged, compared to its average volume of 11,163,614. Meta Platforms, Inc. has a fifty-two week low of $352.05 and a fifty-two week high of $638.40. The company has a 50-day moving average price of $589.88 and a 200-day moving average price of $549.56. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.58 trillion, a PE ratio of 29.54, a PEG ratio of 1.39 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

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.