AllSquare Wealth Management LLC Has $1.38 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

AllSquare Wealth Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,349 shares of the social networking company’s stock after buying an additional 47 shares during the quarter. Meta Platforms makes up about 0.8% of AllSquare Wealth Management LLC’s holdings, making the stock its 22nd biggest position. AllSquare Wealth Management LLC’s holdings in Meta Platforms were worth $1,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. JDM Financial Group LLC acquired a new position in Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the 3rd quarter valued at $36,000. Avondale Wealth Management bought a new stake in Meta Platforms in the 4th quarter valued at $41,000. Cordant Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $59,000. Finally, Bear Mountain Capital Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $70,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 1.7 %

Shares of NASDAQ:META opened at $596.25 on Friday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a 50 day moving average of $655.38 and a 200-day moving average of $605.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate 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 business posted $5.33 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $600.25, for a total transaction of $552,830.25. Following the completion of the transaction, the insider now owns 32,103 shares in the company, valued at approximately $19,269,825.75. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $604.46, for a total transaction of $21,712,807.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 622,844 shares of company stock worth $409,212,161. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on META shares. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Piper Sandler increased their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. KeyCorp reduced their price target on shares of Meta Platforms from $750.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Wells Fargo & Company raised their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Two research 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $718.31.

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.