Spartan Planning & Wealth Management Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Spartan Planning & Wealth Management bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,899 shares of the social networking company’s stock, valued at approximately $2,283,000. Meta Platforms comprises about 2.1% of Spartan Planning & Wealth Management’s portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also modified their holdings of META. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter valued at $36,000. Halpern Financial Inc. purchased a new position in Meta Platforms during the 3rd quarter worth $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth $49,000. Finally, Hoese & Co LLP increased its stake in shares of Meta Platforms by 2,000.0% during the third quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock worth $60,000 after acquiring an additional 100 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $584.83, for a total value of $241,534.79. Following the sale, the chief operating officer now directly owns 11,533 shares in the company, valued at $6,744,844.39. This trade represents a 3.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,640 shares of company stock valued at $219,037,690 over the last three months. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on META shares. Barclays boosted their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. TD Cowen increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Guggenheim increased their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $645.80.

Meta Platforms Stock Down 1.5 %

Meta Platforms stock traded down $9.27 during midday trading on Tuesday, hitting $620.93. The stock had a trading volume of 7,298,256 shares, compared to its average volume of 11,417,402. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average price of $590.92 and a 200 day moving average price of $550.47. Meta Platforms, Inc. has a 12 month low of $352.05 and a 12 month high of $638.40. The stock has a market cap of $1.57 trillion, a P/E ratio of 29.25, a P/E/G ratio of 1.39 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s payout ratio is currently 9.42%.

Meta Platforms Company 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.