Tandem Capital Management Corp ADV Sells 120 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tandem Capital Management Corp ADV lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,214 shares of the social networking company’s stock after selling 120 shares during the period. Meta Platforms accounts for 2.2% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 10th largest holding. Tandem Capital Management Corp ADV’s holdings in Meta Platforms were worth $3,615,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC grew its holdings in Meta Platforms by 6.3% during the third quarter. Integrated Investment Consultants LLC now owns 7,221 shares of the social networking company’s stock valued at $2,168,000 after purchasing an additional 429 shares during the last quarter. Cedar Brook Financial Partners LLC grew its holdings in Meta Platforms by 2.0% during the third quarter. Cedar Brook Financial Partners LLC now owns 3,094 shares of the social networking company’s stock valued at $929,000 after purchasing an additional 62 shares during the last quarter. Perennial Advisors LLC grew its holdings in Meta Platforms by 11.0% during the third quarter. Perennial Advisors LLC now owns 3,028 shares of the social networking company’s stock valued at $909,000 after purchasing an additional 300 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Meta Platforms by 10.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 4,862 shares of the social networking company’s stock valued at $1,460,000 after purchasing an additional 443 shares during the last quarter. Finally, Nalls Sherbakoff Group LLC grew its holdings in Meta Platforms by 322.8% during the third quarter. Nalls Sherbakoff Group LLC now owns 334 shares of the social networking company’s stock valued at $100,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 10.6 %

NASDAQ:META traded down $52.12 on Thursday, hitting $441.38. 82,642,094 shares of the stock were exchanged, compared to its average volume of 18,210,709. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 1.27 and a beta of 1.20. Meta Platforms, Inc. has a 52 week low of $208.88 and a 52 week 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 2.67. The company’s 50-day moving average price is $495.08 and its 200 day moving average price is $403.40.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.45%. Meta Platforms’s dividend payout ratio is currently 13.42%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The disclosure for this sale can be found here. In the last three months, insiders sold 1,368,829 shares of company stock valued at $657,321,830. 13.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on META shares. UBS Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group lowered their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial lowered their price objective on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JMP Securities restated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $509.18.

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.