Marcum Wealth LLC Purchases 528 Shares of Meta Platforms, Inc. (NASDAQ:META)

Marcum Wealth LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,976 shares of the social networking company’s stock after purchasing an additional 528 shares during the period. Marcum Wealth LLC’s holdings in Meta Platforms were worth $4,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Charles Schwab Investment Management Inc. raised its holdings in shares of Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the period. LS Investment Advisors LLC grew its position in Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Cutter & CO Brokerage Inc. increased its stake in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Meta Platforms by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares during the last quarter. Finally, M&G PLC boosted its stake in shares of Meta Platforms by 14.6% during the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock valued at $412,606,000 after purchasing an additional 91,773 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Bank of America raised their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Barclays lifted their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Buying and Selling at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. The trade was a 15.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,427 shares of company stock valued at $256,996,450. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Down 2.3 %

Meta Platforms stock opened at $594.25 on Wednesday. The stock has a 50-day moving average price of $595.02 and a 200 day moving average price of $554.81. The company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a 52 week low of $358.61 and a 52 week high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

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.