Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Enzi Wealth

Enzi Wealth lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,098 shares of the social networking company’s stock after purchasing an additional 20 shares during the quarter. Enzi Wealth’s holdings in Meta Platforms were worth $685,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of META. Geode Capital Management LLC lifted its stake in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the period. Jennison Associates LLC raised its holdings in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares during the period. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after purchasing an additional 186,728 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on META shares. TD Cowen raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Scotiabank upped 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 note on Thursday. Susquehanna raised their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday. BMO Capital Markets upped their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Mizuho lifted their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $710.83.

Meta Platforms Stock Performance

NASDAQ:META opened at $689.18 on Monday. Meta Platforms, Inc. has a twelve month low of $387.10 and a twelve month high of $710.79. The firm has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.35 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 firm’s fifty day simple moving average is $613.60 and its 200 day simple moving average is $567.04.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same period in the prior year, the business earned $5.33 earnings per share. As a group, equities research analysts expect that Meta Platforms, Inc. will post 25.44 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.36%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total value of $24,195,307.97. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $666.00, for a total transaction of $602,730.00. Following the completion of the transaction, the insider now directly owns 29,295 shares of the company’s stock, valued at approximately $19,510,470. The trade was a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 661,804 shares of company stock valued at $407,745,741. Corporate insiders own 13.71% of the company’s stock.

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.