Drive Wealth Management LLC Has $2.13 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Drive Wealth Management LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,026 shares of the social networking company’s stock after selling 33 shares during the period. Meta Platforms comprises 0.7% of Drive Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Drive Wealth Management LLC’s holdings in Meta Platforms were worth $2,133,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Signify Wealth acquired a new position in Meta Platforms in the fourth quarter worth approximately $228,000. Investment Research & Advisory Group Inc. increased its holdings in Meta Platforms by 1.5% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after buying an additional 164 shares during the last quarter. Keel Point LLC increased its holdings in Meta Platforms by 6.3% in the third quarter. Keel Point LLC now owns 6,690 shares of the social networking company’s stock worth $2,008,000 after buying an additional 399 shares during the last quarter. Syntegra Private Wealth Group LLC acquired a new position in Meta Platforms in the fourth quarter worth approximately $269,000. Finally, AFT Forsyth & Company Inc. increased its holdings in Meta Platforms by 5.6% in the third quarter. AFT Forsyth & Company Inc. now owns 4,149 shares of the social networking company’s stock worth $1,246,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $351.47, for a total value of $6,917,281.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares in the company, valued at $36,157,645.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $351.47, for a total value of $6,917,281.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,502,805 shares of company stock worth $703,056,383. 14.03% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $497.37 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a fifty day moving average price of $473.50 and a two-hundred day moving average price of $381.00. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $523.57. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 33.38, a P/E/G ratio of 1.26 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. During the same period in the prior year, the company posted $3.00 earnings per share. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

Analyst Ratings Changes

A number of equities analysts recently commented on META shares. Oppenheimer increased their price objective on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Wells Fargo & Company upped their target price on Meta Platforms from $536.00 to $609.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Mizuho upped their target price on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada upped their target price on Meta Platforms from $400.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Guggenheim upped their target price on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $496.35.

Get Our Latest Stock Analysis on Meta Platforms

Meta Platforms Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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