Horizon Wealth Management LLC Has $1.02 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Horizon Wealth Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,740 shares of the social networking company’s stock after purchasing an additional 47 shares during the quarter. Horizon Wealth Management LLC’s holdings in Meta Platforms were worth $1,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Jennison Associates LLC grew its position in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after buying an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Meta Platforms by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after buying an additional 208,677 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on META. Wedbush raised their price target on shares of Meta Platforms from $640.00 to $680.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Truist Financial raised their price target on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Wells Fargo & Company raised their price target on shares of Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research note on Wednesday, October 16th. Two 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 issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $650.05.

Insider Activity at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. The trade was a 15.86 % 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 35,921 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 423,427 shares of company stock valued at $256,996,450. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of META stock opened at $608.33 on Tuesday. Meta Platforms, Inc. has a 12-month low of $358.61 and a 12-month high of $638.40. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $594.58 and a 200-day moving average of $554.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Meta Platforms Company 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.