Accurate Wealth Management LLC Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Accurate Wealth Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 27.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,622 shares of the social networking company’s stock after purchasing an additional 2,258 shares during the period. Meta Platforms comprises approximately 1.3% of Accurate Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Accurate Wealth Management LLC’s holdings in Meta Platforms were worth $6,541,000 as of its most recent filing with the SEC.

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

Meta Platforms Trading Up 3.8 %

NASDAQ META opened at $617.12 on Thursday. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $1.56 trillion, a PE ratio of 29.07, a P/E/G ratio of 1.36 and a beta of 1.19. The company has a fifty day moving average of $595.02 and a 200 day moving average of $554.81.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current 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 0.32%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. TD Cowen boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley raised their price target on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Finally, Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the sale, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. Insiders sold a total of 495,682 shares of company stock valued at $301,101,199 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

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.