Tyche Wealth Partners LLC Takes $1 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Tyche Wealth Partners LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,837 shares of the social networking company’s stock, valued at approximately $1,004,000.

Other large investors have also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of Meta Platforms during the first quarter worth about $66,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Meta Platforms by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock valued at $499,020,000 after purchasing an additional 249,926 shares during the period. Ergoteles LLC grew its position in Meta Platforms by 284.0% in the 1st quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after purchasing an additional 2,482 shares during the last quarter. First Western Trust Bank acquired a new stake in shares of Meta Platforms in the first quarter valued at approximately $813,000. Finally, Oxford Financial Group Ltd. raised its holdings in shares of Meta Platforms by 26.9% during the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock valued at $420,000 after buying an additional 400 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on META shares. Bank of America increased their price target on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. UBS Group upped their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays lifted their price target on Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. TD Cowen upped their price target on shares of Meta Platforms from $415.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Piper Sandler lifted their price objective on shares of Meta Platforms from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $509.28.

Meta Platforms Price Performance

META traded down $1.69 during trading on Wednesday, hitting $498.07. The company’s stock had a trading volume of 1,321,744 shares, compared to its average volume of 16,928,586. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.20. The firm’s 50 day moving average price is $493.16 and its two-hundred day moving average price is $396.01. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.00 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is currently 13.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares in the company, valued at $8,723,496.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,439,788 shares of company stock worth $684,542,792. 14.03% of the stock is currently owned by company insiders.

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.