407 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Partners Wealth Management LLC

Partners Wealth Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 407 shares of the social networking company’s stock, valued at approximately $238,000.

A number of other hedge funds also recently bought and sold shares of META. JDM Financial Group LLC bought a new stake in Meta Platforms during the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the 3rd quarter worth approximately $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. bought a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Meta Platforms in the third quarter worth $61,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. KeyCorp increased their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Susquehanna boosted their price target on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday, January 30th. Pivotal Research upped their price target on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares in the company, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 813,951 shares of company stock worth $526,565,232. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 1.5 %

Shares of NASDAQ META opened at $668.20 on Friday. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The firm’s 50-day moving average is $653.18 and its 200-day moving average is $596.59. 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 has a market capitalization of $1.69 trillion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the company earned $5.33 EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is 8.78%.

About Meta Platforms

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.