Solidarity Wealth LLC Has $6.84 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Solidarity Wealth LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,685 shares of the social networking company’s stock after buying an additional 2,000 shares during the quarter. Meta Platforms makes up approximately 1.8% of Solidarity Wealth LLC’s holdings, making the stock its 20th largest holding. Solidarity Wealth LLC’s holdings in Meta Platforms were worth $6,842,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of META. UMB Bank n.a. raised its position in shares of Meta Platforms by 0.6% during the 4th 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in shares of Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after acquiring an additional 65 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after acquiring an additional 5,594 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 568,016 shares of company stock worth $346,031,180. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several research analyst reports. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. UBS Group lifted their price target on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wolfe Research lifted their price target on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wedbush reissued an “outperform” rating and issued a $700.00 price target (up previously from $680.00) on shares of Meta Platforms in a research note on Wednesday. Finally, KeyCorp lifted their price target on Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have given 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $654.20.

Meta Platforms Stock Up 2.1 %

NASDAQ META opened at $636.45 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $385.66 and a 1-year high of $638.40. The company has a 50 day moving average of $600.06 and a 200-day moving average of $559.30. The company has a market cap of $1.61 trillion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.16 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, equities research analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is 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.