Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,421 shares of the social networking company’s stock after acquiring an additional 63 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Meta Platforms were worth $1,418,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. JDM Financial Group LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the 4th quarter valued at approximately $41,000. Cordant Inc. acquired a new position in Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Trading Up 1.1 %
Shares of Meta Platforms stock opened at $736.67 on Friday. The stock has a market capitalization of $1.87 trillion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. 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 50-day simple moving average of $638.73 and a 200 day simple moving average of $583.52. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $5.33 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.
Wall Street Analyst Weigh In
META has been the topic of several research reports. DA Davidson upped their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Cantor Fitzgerald increased their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Jefferies Financial Group increased their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Morgan Stanley increased their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Susquehanna increased their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $717.90.
View Our Latest Stock Analysis on META
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 793,070 shares of company stock worth $504,185,108. 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.
Further Reading
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