Lineweaver Wealth Advisors LLC Buys 480 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lineweaver Wealth Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,624 shares of the social networking company’s stock after acquiring an additional 480 shares during the quarter. Lineweaver Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,126,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Meta Platforms by 4.6% during the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock valued at $3,758,146,000 after purchasing an additional 289,207 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $640.00 on Wednesday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a 50-day moving average price of $654.92 and a 200 day moving average price of $598.70. The stock has a market cap of $1.62 trillion, a PE ratio of 26.76, a P/E/G ratio of 1.42 and a beta of 1.20. 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 announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 business posted $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on META shares. Wells Fargo & Company upped their price target on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Pivotal Research upped their price target on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Mizuho upped their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Bank of America boosted their price target on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $719.26.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $623.50, for a total transaction of $257,505.50. Following the completion of the sale, the chief operating officer now owns 18,753 shares in the company, valued at $11,692,495.50. This trade represents a 2.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $618.00, for a total transaction of $559,290.00. Following the completion of the sale, the insider now owns 35,630 shares of the company’s stock, valued at approximately $22,019,340. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 796,712 shares of company stock worth $517,503,564 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

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.