Waterfront Wealth Inc. Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Waterfront Wealth Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 670 shares of the social networking company’s stock after acquiring an additional 70 shares during the period. Waterfront Wealth Inc.’s holdings in Meta Platforms were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Investment Consultants LLC boosted its stake in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after buying an additional 1,066,437 shares in the last quarter. World Investment Advisors LLC increased its holdings in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Geode Capital Management LLC increased its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Finally, National Pension Service increased its holdings in Meta Platforms by 14.6% in the 3rd quarter. National Pension Service now owns 4,318,046 shares of the social networking company’s stock valued at $2,471,822,000 after acquiring an additional 550,852 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $658.24 on Friday. The firm’s fifty day simple moving average is $651.52 and its 200-day simple moving average is $595.06. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $5.33 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

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

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s 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 owns 19,166 shares in the company, valued at approximately $11,068,173.34. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 813,951 shares of company stock worth $526,565,232 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on META shares. KeyCorp boosted their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Scotiabank boosted their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Finally, Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $719.26.

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.