Trueblood Wealth Management LLC Buys 227 Shares of Meta Platforms, Inc. (NASDAQ:META)

Trueblood Wealth Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 844 shares of the social networking company’s stock after acquiring an additional 227 shares during the period. Trueblood Wealth Management LLC’s holdings in Meta Platforms were worth $494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JDM Financial Group LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the fourth quarter valued at $41,000. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter worth $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $616.46 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a fifty day moving average of $598.00 and a 200 day moving average of $558.31. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $381.16 and a 1 year high of $638.40.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total transaction of $547,108.70. Following the completion of the transaction, the insider now directly owns 31,105 shares of the company’s stock, valued at $18,804,216.70. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Insiders sold 531,190 shares of company stock worth $322,938,501 over the last three months. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on META shares. JMP Securities boosted their price target on Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a report on Thursday, January 2nd. Susquehanna raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Morgan Stanley boosted their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Guggenheim increased their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein increased their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $651.27.

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.