WealthTrak Capital Management LLC Invests $43,000 in Meta Platforms, Inc. (NASDAQ:META)

WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 74 shares of the social networking company’s stock, valued at approximately $43,000.

A number of other hedge funds also recently made changes to their positions in the stock. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the 3rd quarter worth $36,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth $40,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the 4th quarter worth $41,000. Finally, Cordant Inc. bought a new stake in Meta Platforms during the fourth quarter valued at about $59,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 4.3 %

NASDAQ:META opened at $576.74 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a 50-day moving average of $655.23 and a 200 day moving average of $608.48. The firm has a market cap of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 period in the previous year, the firm posted $5.33 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s payout ratio is presently 8.78%.

Analyst Ratings Changes

META has been the subject of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, Oppenheimer boosted their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the sale, the chief operating officer now owns 17,514 shares of the company’s stock, valued at approximately $10,318,548.24. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 584,823 shares of company stock worth $386,274,777 in the last three months. 13.71% of the stock is owned by 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.