Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,634 shares of the social networking company’s stock after purchasing an additional 1,227 shares during the quarter. Modern Wealth Management LLC’s holdings in Meta Platforms were worth $3,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. JDM Financial Group LLC purchased a new stake in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the third quarter worth approximately $36,000. Millstone Evans Group LLC acquired a new position in Meta Platforms in the 4th quarter valued at $40,000. Avondale Wealth Management purchased a new position in Meta Platforms in the 4th quarter valued at $41,000. Finally, Cordant Inc. acquired a new stake in Meta Platforms during the 4th quarter worth $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on META. Arete Research upgraded shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Oppenheimer raised their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Mizuho upped their price target on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Jefferies Financial Group lifted their price objective on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Susquehanna upped their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $718.31.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,060 shares of the company’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the transaction, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total transaction of $535,542.80. Following the completion of the transaction, the insider now directly owns 32,915 shares in the company, valued at $19,477,780.40. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 585,605 shares of company stock valued at $386,710,448. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 1.2 %

META stock opened at $626.31 on Wednesday. The company’s 50 day moving average price is $656.24 and its 200 day moving average price is $608.00. The firm has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the business posted $5.33 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. This is an increase 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 8.78%.

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.