Parkworth Wealth Management Inc. Invests $79,000 in Meta Platforms, Inc. (NASDAQ:META)

Parkworth Wealth Management Inc. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 135 shares of the social networking company’s stock, valued at approximately $79,000.

A number of other large investors have also added to or reduced their stakes in META. Proficio Capital Partners LLC raised its holdings in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Raymond James Financial Inc. bought a new position in Meta Platforms in the 4th quarter valued at approximately $2,243,603,000. Strategic Financial Concepts LLC increased its position in Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after purchasing an additional 1,066,437 shares during the period. Finally, World Investment Advisors LLC increased its position in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after purchasing an additional 890,434 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total value of $547,995.00. Following the completion of the sale, the insider now owns 33,024 shares of the company’s stock, valued at approximately $19,649,280. This trade represents a 2.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the completion of the sale, the chief operating officer now directly owns 8,054 shares of the company’s stock, valued at approximately $4,904,886. This trade represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 654,355 shares of company stock worth $428,564,164 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. KeyCorp increased their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup increased their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $719.26.

Meta Platforms Trading Up 2.9 %

NASDAQ META opened at $607.60 on Monday. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business’s fifty day moving average is $658.01 and its 200-day moving average is $603.80.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the business posted $5.33 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s payout ratio is presently 8.78%.

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.