ERTS Wealth Advisors LLC Has $626,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

ERTS Wealth Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,769 shares of the social networking company’s stock after purchasing an additional 32 shares during the period. ERTS Wealth Advisors LLC’s holdings in Meta Platforms were worth $626,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of META. Stone House Investment Management LLC lifted its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $26,000. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms during the second quarter worth approximately $30,000. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Finally, PayPay Securities Corp increased its holdings in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. KeyCorp raised their target price on shares of Meta Platforms from $465.00 to $575.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Guggenheim lifted their price objective on shares of Meta Platforms from $380.00 to $520.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Citigroup lifted their price objective on shares of Meta Platforms from $440.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Bank of America lifted their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $496.13.

View Our Latest Stock Report on Meta Platforms

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $351.47, for a total value of $6,917,281.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $351.47, for a total transaction of $6,917,281.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total transaction of $201,722.40. Following the sale, the insider now owns 36,418 shares in the company, valued at approximately $12,979,375.20. The disclosure for this sale can be found here. Insiders sold a total of 1,535,345 shares of company stock valued at $719,043,348 in the last three months. Company insiders own 14.03% of the company’s stock.

Meta Platforms Trading Up 1.9 %

Shares of META stock opened at $506.74 on Thursday. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 34.01, a PEG ratio of 1.26 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a 50-day simple moving average of $475.82 and a two-hundred day simple moving average of $381.88. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $523.57.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.00 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is 13.42%.

Meta Platforms Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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