Unique Wealth LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Unique Wealth LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 17.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 978 shares of the social networking company’s stock after purchasing an additional 144 shares during the period. Unique Wealth LLC’s holdings in Meta Platforms were worth $573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindenwold Advisors INC raised its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares in the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after acquiring an additional 17 shares during the period. Central Valley Advisors LLC increased its stake in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC raised its stake in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the last quarter. Finally, Alliance Wealth Advisors LLC raised its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on META. Morgan Stanley upped their target price on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Meta Platforms Stock Down 2.3 %

Shares of NASDAQ META opened at $594.25 on Wednesday. The stock has a fifty day moving average price of $595.02 and a 200 day moving average price of $554.81. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $358.61 and a 12-month high of $638.40. The company has a market cap of $1.50 trillion, a P/E ratio of 27.99, a P/E/G ratio of 1.36 and a beta of 1.19.

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

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total value of $571,552.75. Following the sale, the insider now owns 32,010 shares of the company’s stock, valued at $20,215,915.50. This represents a 2.75 % 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. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms 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.