FAS Wealth Partners Inc. Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

FAS Wealth Partners Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,066 shares of the social networking company’s stock after purchasing an additional 464 shares during the period. FAS Wealth Partners Inc.’s holdings in Meta Platforms were worth $6,041,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of META. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after acquiring an additional 1,733,182 shares in the last quarter. FMR LLC increased its stake in Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares in the last quarter. State Street Corp increased its stake in Meta Platforms by 1.8% during the 2nd quarter. State Street Corp now owns 88,542,953 shares of the social networking company’s stock valued at $25,410,057,000 after purchasing an additional 1,548,671 shares in the last quarter. Morgan Stanley increased its stake in Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares in the last quarter. Finally, Norges Bank acquired a new position in Meta Platforms during the 4th quarter valued at approximately $4,223,148,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. JMP Securities increased their price objective on shares of Meta Platforms from $410.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada increased their price objective on shares of Meta Platforms from $400.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Canaccord Genuity Group increased their price target on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, KeyCorp increased their price target on shares of Meta Platforms from $465.00 to $575.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. One investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $496.35.

View Our Latest Research Report on Meta Platforms

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $351.47, for a total transaction of $6,917,281.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $351.47, for a total transaction of $6,917,281.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total transaction of $295,594.65. Following the sale, the insider now owns 39,568 shares of the company’s stock, valued at approximately $19,993,314.72. The disclosure for this sale can be found here. Insiders sold 1,502,805 shares of company stock worth $703,056,383 over the last 90 days. 14.03% of the stock is owned by insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $497.37 on Wednesday. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $523.57. The stock has a market cap of $1.27 trillion, a P/E ratio of 33.38, a PEG ratio of 1.26 and a beta of 1.20. The company has a 50-day moving average price of $473.50 and a 200 day moving average price of $381.00. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The business had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same period last year, the business earned $3.00 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 19.94 earnings per share for the current year.

Meta Platforms Announces Dividend

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

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.

Further Reading

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

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