Jacksonville Wealth Management LLC Makes New $1.54 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Jacksonville Wealth Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,631 shares of the social networking company’s stock, valued at approximately $1,540,000. Meta Platforms comprises about 1.4% of Jacksonville Wealth Management LLC’s portfolio, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC raised its position in shares of Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after purchasing an additional 890,434 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $644.76, for a total value of $23,160,423.96. The disclosure for this sale can be found here. Insiders have sold 602,612 shares of company stock worth $368,414,542 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 2.2 %

Shares of META stock opened at $674.33 on Wednesday. Meta Platforms, Inc. has a 1 year low of $387.10 and a 1 year high of $682.58. The company’s fifty day simple moving average is $606.30 and its two-hundred day simple moving average is $562.78. 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 stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on META. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wolfe Research increased their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Monday. Finally, Citigroup raised their price objective on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two investment 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $654.20.

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.