Elyxium Wealth LLC Sells 2,120 Shares of Meta Platforms, Inc. (NASDAQ:META)

Elyxium Wealth LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 60.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,384 shares of the social networking company’s stock after selling 2,120 shares during the period. Elyxium Wealth LLC’s holdings in Meta Platforms were worth $810,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC grew its holdings in Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors raised its holdings in Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new position in shares of Meta Platforms during the fourth quarter worth $19,949,512,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the topic of several recent analyst reports. Moffett Nathanson lifted their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Oppenheimer lifted their price objective on Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Pivotal Research lowered their target price on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. BMO Capital Markets lifted their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $696.45.

Meta Platforms Price Performance

Meta Platforms stock opened at $597.79 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock has a fifty day moving average of $569.82 and a 200-day moving average of $604.14.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 earnings per share. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is presently 8.19%.

Insider Activity

In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $592.52, for a total transaction of $545,710.92. Following the transaction, the insider now owns 25,656 shares in the company, valued at approximately $15,201,693.12. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,795 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $715.82, for a total value of $25,622,776.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,689 shares of company stock worth $109,097,842. Insiders own 13.71% 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.