Centerline Wealth Advisors LLC Invests $1.20 Million in Meta Platforms, Inc. (NASDAQ:META)

Centerline Wealth Advisors LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,056 shares of the social networking company’s stock, valued at approximately $1,204,000. Meta Platforms comprises approximately 0.7% of Centerline Wealth Advisors LLC’s portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management bought a new position in Meta Platforms in the fourth quarter worth $41,000. Cordant Inc. bought a new position in Meta Platforms in the fourth quarter worth $59,000. Finally, Reston Wealth Management LLC bought a new position in Meta Platforms in the third quarter worth $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.8 %

NASDAQ META opened at $725.38 on Thursday. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.46 and a beta of 1.20. The stock’s 50 day moving average price is $634.08 and its two-hundred day moving average price is $579.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $727.10.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the business posted $5.33 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 8.36%.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Sanford C. Bernstein raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Jefferies Financial Group raised their target price on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup lifted their price objective on Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, DA Davidson lifted their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $717.90.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the sale, the chief operating officer now owns 19,579 shares in the company, valued at $11,018,473.83. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the sale, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 812,198 shares of company stock worth $515,102,208 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

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.