Strategies Wealth Advisors LLC Takes $2.30 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Strategies Wealth Advisors LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,933 shares of the social networking company’s stock, valued at approximately $2,303,000.

Several other hedge funds have also modified their holdings of META. Ballentine Partners LLC grew its position in shares of Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after buying an additional 808 shares during the last quarter. UMB Bank n.a. boosted its stake in Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after acquiring an additional 897 shares during the period. Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $459,000. Apollon Financial LLC lifted its holdings in shares of Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after purchasing an additional 148 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total transaction of $547,108.70. Following the transaction, the insider now owns 31,105 shares in the company, valued at $18,804,216.70. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 451,119 shares of company stock worth $304,709,239. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 0.5 %

Shares of META opened at $543.57 on Monday. The business’s 50-day moving average price is $628.35 and its 200-day moving average price is $609.40. The stock has a market cap of $1.38 trillion, a PE ratio of 22.72, a P/E/G ratio of 1.42 and a beta of 1.28. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last posted 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 prior year, the firm earned $5.33 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.39%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analysts Set New Price Targets

META has been the topic of several analyst reports. Oppenheimer increased their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Mizuho lifted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research report on Thursday, January 30th. JMP Securities restated a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Meta Platforms from $725.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $701.38.

Meta Platforms 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.