Magnolia Private Wealth LLC Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Magnolia Private Wealth LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 487 shares of the social networking company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JDM Financial Group LLC bought a new position in Meta Platforms in the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter worth $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth $59,000. Finally, Bear Mountain Capital Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth $70,000. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $623.50, for a total value of $257,505.50. Following the completion of the sale, the chief operating officer now owns 18,753 shares of the company’s stock, valued at approximately $11,692,495.50. This represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold a total of 796,712 shares of company stock valued at $517,503,564 in the last three months. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on META shares. Piper Sandler lifted their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Bank of America lifted their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. UBS Group lifted their target price on shares of Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $719.26.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $640.00 on Wednesday. The company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.76, 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 firm’s 50-day moving average is $654.92 and its 200 day moving average is $598.70. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the business posted $5.33 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.33%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms’s 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.