Investor s Fiduciary Advisor Network LLC Purchases Shares of 1,370 Meta Platforms, Inc. (NASDAQ:META)

Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,370 shares of the social networking company’s stock, valued at approximately $802,000.

Several other institutional investors have also recently modified their holdings of the stock. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms in the fourth quarter valued at $45,000. Cordant Inc. purchased a new position in Meta Platforms during the fourth quarter worth about $59,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms in the 4th quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total value of $453,012.27. Following the sale, the insider now owns 27,498 shares of the company’s stock, valued at approximately $13,525,441.26. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,689 shares of company stock valued at $109,097,842. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $592.49 on Friday. The firm’s 50 day moving average is $568.87 and its two-hundred day moving average is $604.50. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 24.77, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same period last year, the firm earned $4.71 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.19%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. DA Davidson reduced their target price on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Loop Capital dropped their price target on Meta Platforms from $900.00 to $695.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $696.45.

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.