Prosperity Wealth Management Inc. Has $1.99 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Prosperity Wealth Management Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,405 shares of the social networking company’s stock after buying an additional 228 shares during the period. Meta Platforms makes up approximately 0.8% of Prosperity Wealth Management Inc.’s investment portfolio, making the stock its 20th biggest position. Prosperity Wealth Management Inc.’s holdings in Meta Platforms were worth $1,994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prosperity Financial Group Inc. grew its stake in Meta Platforms by 14.3% during the fourth quarter. Prosperity Financial Group Inc. now owns 3,597 shares of the social networking company’s stock worth $2,106,000 after buying an additional 451 shares in the last quarter. Warburton Capital Management LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $261,000. Natural Investments LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $282,000. AGF Management Ltd. increased its stake in Meta Platforms by 3,287.2% in the fourth quarter. AGF Management Ltd. now owns 544,012 shares of the social networking company’s stock valued at $318,524,000 after acquiring an additional 527,951 shares during the last quarter. Finally, GC Wealth Management RIA LLC raised its position in Meta Platforms by 30.3% during the fourth quarter. GC Wealth Management RIA LLC now owns 8,917 shares of the social networking company’s stock valued at $5,221,000 after purchasing an additional 2,072 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $607.60 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $658.01 and its 200-day moving average price is $603.19. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 25.40, a P/E/G ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 company posted $5.33 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on META shares. Argus set a $775.00 price target on Meta Platforms in a research note on Tuesday, February 4th. Robert W. Baird boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JMP Securities restated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $719.26.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 22,035 shares of Meta Platforms stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $618.63, for a total transaction of $13,631,512.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 690,689 shares of company stock worth $451,269,409 over the last three months. 13.71% of the stock is currently owned by 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.