Financial Perspectives Inc Has $2.40 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Financial Perspectives Inc raised its position in Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,090 shares of the social networking company’s stock after purchasing an additional 140 shares during the quarter. Meta Platforms accounts for approximately 0.8% of Financial Perspectives Inc’s holdings, making the stock its 25th largest holding. Financial Perspectives Inc’s holdings in Meta Platforms were worth $2,395,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of META. Seelaus Asset Management LLC increased its position in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning raised its stake in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares in the last quarter. Stephens Consulting LLC grew its position in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after purchasing an additional 16 shares in the last quarter. VeraBank N.A. increased its holdings in shares of Meta Platforms by 0.8% during the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after purchasing an additional 16 shares during the period. Finally, Lindenwold Advisors INC raised its position in shares of Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after buying an additional 17 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Rosenblatt Securities restated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays upped their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $719.26.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $577.49, for a total transaction of $238,503.37. Following the completion of the transaction, the chief operating officer now directly owns 19,166 shares in the company, valued at $11,068,173.34. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 812,422 shares of company stock worth $525,534,818. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.6 %

Shares of META stock opened at $657.50 on Wednesday. The company has a market cap of $1.67 trillion, a P/E ratio of 27.49, a PEG ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a 50 day simple moving average of $648.73 and a two-hundred day simple moving average of $594.06.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the firm earned $5.33 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio is 8.78%.

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.