Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by MN Wealth Advisors LLC

MN Wealth Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,776 shares of the social networking company’s stock after acquiring an additional 118 shares during the quarter. MN Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,040,000 as of its most recent filing with the SEC.

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

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $683.62 on Friday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The stock has a fifty day moving average of $647.09 and a 200-day moving average of $591.24. The company has a market capitalization of $1.73 trillion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. 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 (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders 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 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s payout ratio is 8.36%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the sale, the insider now directly owns 37,790 shares of the company’s stock, valued at $21,362,687. The trade was a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 810,217 shares of company stock valued at $523,808,864 in the last three months. 13.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on META. Wells Fargo & Company boosted their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Roth Mkm upped their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Bank of America upped their target price on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, DA Davidson upped their target price on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two investment 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently 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.