Waterway Wealth Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 20.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,372 shares of the social networking company’s stock after buying an additional 235 shares during the period. Meta Platforms comprises approximately 0.4% of Waterway Wealth Management LLC’s holdings, making the stock its 28th largest holding. Waterway Wealth Management LLC’s holdings in Meta Platforms were worth $803,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the 4th quarter valued at about $41,000. Cordant Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Peterson Financial Group Inc. bought a new stake in Meta Platforms during the 3rd quarter worth approximately $70,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Susquehanna increased their target price on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Finally, Cantor Fitzgerald increased their price objective on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $719.26.
Read Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Performance
NASDAQ META opened at $627.93 on Friday. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The firm has a 50-day moving average price of $656.39 and a two-hundred day moving average price of $599.31. The company has a market capitalization of $1.59 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.42 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.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly 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 return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the company earned $5.33 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is 8.78%.
Insider Buying and Selling
In other news, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold 775,295 shares of company stock valued at $504,237,715 over the last quarter. 13.71% of the stock is owned by company insiders.
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.
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