Concorde Asset Management LLC Has $811,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Concorde Asset Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,385 shares of the social networking company’s stock after buying an additional 76 shares during the quarter. Concorde Asset Management LLC’s holdings in Meta Platforms were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in Meta Platforms during the fourth quarter worth about $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $41,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the fourth quarter valued at approximately $43,000. Cordant Inc. acquired a new position in Meta Platforms in the 4th quarter worth $59,000. Finally, Conquis Financial LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $59,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 487,453 shares of company stock worth $326,680,904. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 6.7 %

Shares of Meta Platforms stock opened at $546.29 on Friday. The firm’s 50-day moving average price is $631.56 and its two-hundred day moving average price is $609.28. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the company earned $5.33 earnings per share. On average, analysts forecast 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. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.38%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is 8.78%.

Analyst Ratings Changes

META has been the subject of a number of research reports. Pivotal Research increased their price objective on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Monday, January 27th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective on the stock in a research report on Thursday, January 30th. Arete Research raised shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Finally, Scotiabank boosted their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $704.62.

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.