Fortem Financial Group LLC Has $4.05 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Fortem Financial Group LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 6,918 shares of the social networking company’s stock after acquiring an additional 206 shares during the quarter. Meta Platforms makes up approximately 1.6% of Fortem Financial Group LLC’s holdings, making the stock its 15th biggest holding. Fortem Financial Group LLC’s holdings in Meta Platforms were worth $4,051,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the last quarter. LS Investment Advisors LLC grew its position in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Cutter & CO Brokerage Inc. increased its holdings in Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after purchasing an additional 65 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after purchasing an additional 5,594 shares in the last quarter. Finally, M&G PLC boosted its stake in Meta Platforms by 14.6% in the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after purchasing an additional 91,773 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on META. Truist Financial raised their price objective on shares of Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Pivotal Research upped their price target on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Two equities 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 given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target 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 company’s stock were exchanged, compared to its average volume of 11,163,614. The company has a market cap of $1.58 trillion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19. The firm has a 50-day moving average price of $589.88 and a 200-day moving average price of $549.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 52 week low of $352.05 and a 52 week high of $638.40.

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

Meta Platforms Announces Dividend

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

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the completion of the sale, the insider now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 326,624 shares of company stock valued at $197,875,975. 13.71% of the stock is currently owned by corporate insiders.

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.