Concentrum Wealth Management Has $72.28 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Concentrum Wealth Management lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 0.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 123,447 shares of the social networking company’s stock after purchasing an additional 24 shares during the period. Meta Platforms comprises approximately 25.4% of Concentrum Wealth Management’s portfolio, making the stock its biggest holding. Concentrum Wealth Management’s holdings in Meta Platforms were worth $72,280,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $30,000. Millstone Evans Group LLC bought a new stake in Meta Platforms in the fourth quarter valued at $40,000. Avondale Wealth Management purchased a new position in Meta Platforms during the 4th quarter valued at $41,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter worth $43,000. Finally, Cordant Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter worth about $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 5.1 %

Meta Platforms stock opened at $504.73 on Monday. The firm has a 50 day moving average of $648.15 and a 200 day moving average of $610.77. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its 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 prior year, the company posted $5.33 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. Scotiabank boosted their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. BMO Capital Markets upped their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their target price on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $790.00 price objective on shares of Meta Platforms in a report on Wednesday, April 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $718.55.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $611.10, for a total value of $21,951,323.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the transaction, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 535,725 shares of company stock valued at $356,391,449. 13.71% of the stock is currently owned by corporate 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.