Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Transform Wealth LLC

Transform Wealth LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 21.7% in the fourth quarter, Holdings Channel reports. The fund owned 26,065 shares of the social networking company’s stock after purchasing an additional 4,647 shares during the period. Meta Platforms accounts for about 0.8% of Transform Wealth LLC’s portfolio, making the stock its 28th largest holding. Transform Wealth LLC’s holdings in Meta Platforms were worth $15,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.1 %

NASDAQ:META opened at $636.45 on Friday. The firm has a market cap of $1.61 trillion, a P/E ratio of 29.98, a PEG ratio of 1.16 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $600.06 and its 200-day simple moving average is $559.30. Meta Platforms, Inc. has a 12-month low of $385.66 and a 12-month high of $638.40.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping 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. Equities analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the sale, the insider now directly owns 31,482 shares in the company, valued at approximately $18,262,708.20. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 568,016 shares of company stock valued at $346,031,180 over the last quarter. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Pivotal Research lifted their target price on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $654.20.

About Meta Platforms

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.