Campbell Newman Asset Management Inc. Sells 75 Shares of Meta Platforms, Inc. (NASDAQ:META)

Campbell Newman Asset Management Inc. cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,284 shares of the social networking company’s stock after selling 75 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Meta Platforms were worth $3,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the 3rd quarter valued at $36,000. Avondale Wealth Management bought a new stake in Meta Platforms in the 4th quarter valued at $41,000. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth about $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on META. Barclays increased their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $650.05.

Meta Platforms Stock Down 0.9 %

META stock opened at $611.30 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 28.79, a P/E/G ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a fifty-two week low of $358.61 and a fifty-two week high of $638.40. The business has a 50-day moving average of $595.92 and a 200-day moving average of $555.25.

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

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares of the company’s stock, valued at $18,612,808.90. This trade represents a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 496,174 shares of company stock worth $301,408,499. Insiders own 13.71% of the company’s stock.

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.