Broadway Wealth Solutions Inc. Purchases Shares of 758 Meta Platforms, Inc. (NASDAQ:META)

Broadway Wealth Solutions Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 758 shares of the social networking company’s stock, valued at approximately $444,000. Meta Platforms makes up 0.3% of Broadway Wealth Solutions Inc.’s holdings, making the stock its 28th largest position.

A number of other institutional investors also recently modified their holdings of META. Vanguard Group Inc. raised its position in Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Norges Bank bought a new position in shares of Meta Platforms in the fourth quarter valued at about $19,949,512,000. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock worth $8,344,552,000 after buying an additional 424,201 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings 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 acquiring an additional 186,728 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $576.74 on Friday. The firm’s 50 day moving average is $655.23 and its 200-day moving average is $608.48. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company posted $5.33 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio is 8.78%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. 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 note on Thursday, January 30th. Truist Financial upped their price objective on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised their price target on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $718.31.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the transaction, the insider now owns 31,182 shares of the company’s stock, valued at $19,552,673.10. This trade represents a 2.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the completion of the sale, the insider now directly owns 308,686 shares in the company, valued at approximately $209,199,589.06. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 584,823 shares of company stock worth $386,274,777 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

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.