Folger Nolan Fleming Douglas Capital Management Inc. Has $430,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,215 shares of the social networking company’s stock after selling 185 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Meta Platforms were worth $430,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Unique Wealth Strategies LLC bought a new position in Meta Platforms during the fourth quarter worth about $3,622,000. McCarthy Asset Management Inc. increased its holdings in Meta Platforms by 10.8% in the 4th quarter. McCarthy Asset Management Inc. now owns 1,438 shares of the social networking company’s stock valued at $509,000 after buying an additional 140 shares during the period. Mogy Joel R Investment Counsel Inc. increased its holdings in Meta Platforms by 0.4% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 95,503 shares of the social networking company’s stock valued at $33,804,000 after buying an additional 351 shares during the period. Consolidated Planning Corp increased its holdings in Meta Platforms by 3.0% in the 4th quarter. Consolidated Planning Corp now owns 10,744 shares of the social networking company’s stock valued at $3,803,000 after buying an additional 308 shares during the period. Finally, Intact Investment Management Inc. increased its holdings in Meta Platforms by 2.2% in the 4th quarter. Intact Investment Management Inc. now owns 6,850 shares of the social networking company’s stock valued at $2,425,000 after buying an additional 150 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ META traded up $1.91 during trading on Friday, hitting $443.29. 32,645,619 shares of the company’s stock traded hands, compared to its average volume of 18,233,678. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.12 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68. The business has a 50 day moving average of $494.48 and a 200-day moving average of $404.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 20.33 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analysts Set New Price Targets

Several research firms have commented on META. Rosenblatt Securities raised their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Wedbush reduced their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday. Royal Bank of Canada reduced their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $509.18.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 6,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.00, for a total value of $2,600,000.00. Following the sale, the chief operating officer now owns 68,935 shares in the company, valued at $27,574,000. 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 three months. 13.75% of the stock is currently owned by insiders.

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.