1,166 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by PUREfi Wealth LLC

PUREfi Wealth LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,166 shares of the social networking company's stock, valued at approximately $683,000. Meta Platforms comprises 0.7% of PUREfi Wealth LLC's holdings, making the stock its 28th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Seelaus Asset Management LLC raised its position in Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares during the period. Stephens Consulting LLC boosted its stake in Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock valued at $186,000 after acquiring an additional 16 shares during the period. Lindenwold Advisors INC raised its holdings in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after buying an additional 17 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of Meta Platforms by 1.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company's stock valued at $625,000 after buying an additional 17 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. raised its holdings in Meta Platforms by 0.6% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company's stock worth $1,569,000 after purchasing an additional 17 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on META shares. Robert W. Baird boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price 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. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Mizuho upped their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Scotiabank upped their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the company a "sector perform" rating in a report on Thursday, January 30th. Two research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $717.90.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares of the company's stock, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the business's stock in a transaction on Friday, February 7th. The shares were 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. Insiders have sold a total of 810,217 shares of company stock valued at $523,808,864 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Down 1.6 %

Shares of NASDAQ META traded down $11.22 during midday trading on Friday, reaching $683.62. 15,609,265 shares of the stock were exchanged, compared to its average volume of 15,750,735. The business has a 50-day simple moving average of $645.83 and a two-hundred day simple moving average of $589.12. The company has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.44 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the business earned $5.33 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. This is a boost 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 currently 8.36%.

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.