Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Solidarity Wealth LLC

Solidarity Wealth LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,685 shares of the social networking company’s stock after purchasing an additional 2,000 shares during the quarter. Meta Platforms accounts for 1.8% of Solidarity Wealth LLC’s portfolio, making the stock its 20th largest position. Solidarity Wealth LLC’s holdings in Meta Platforms were worth $6,842,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of META. JDM Financial Group LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the 4th quarter worth approximately $41,000. Halpern Financial Inc. bought a new position in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $618.00, for a total transaction of $255,234.00. Following the transaction, the chief operating officer now directly owns 16,275 shares in the company, valued at $10,057,950. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total value of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares in the company, valued at approximately $18,262,708.20. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 568,016 shares of company stock worth $346,031,180. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on META shares. Sanford C. Bernstein raised their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Wolfe Research raised their price target on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Guggenheim raised their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Susquehanna raised their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Finally, Roth Mkm lifted their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities 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 company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $654.20.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $636.45 on Friday. Meta Platforms, Inc. has a fifty-two week low of $385.66 and a fifty-two week high of $638.40. The business has a 50-day moving average of $600.06 and a two-hundred day moving average of $559.30. The stock has a market capitalization of $1.61 trillion, a P/E ratio of 29.98, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities research analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is presently 9.42%.

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.