AMJ Financial Wealth Management Cuts Position in Meta Platforms, Inc. (NASDAQ:META)

AMJ Financial Wealth Management decreased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,870 shares of the social networking company's stock after selling 749 shares during the period. Meta Platforms accounts for 3.2% of AMJ Financial Wealth Management's portfolio, making the stock its 5th largest position. AMJ Financial Wealth Management's holdings in Meta Platforms were worth $11,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC raised its stake in 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 acquiring an additional 698,884 shares in the last quarter. Jennison Associates LLC raised its stake in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company's stock valued at $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Meta Platforms by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company's stock valued at $8,344,552,000 after acquiring an additional 424,201 shares in the last quarter. Franklin Resources Inc. raised its stake in Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company's stock valued at $4,101,602,000 after acquiring an additional 186,728 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after acquiring an additional 110,040 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. DA Davidson lifted their target price on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Wedbush reaffirmed an "outperform" rating and set a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Citigroup lifted their price target on Meta Platforms from $753.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Barclays lifted their price target on Meta Platforms from $630.00 to $705.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group lifted their price target on Meta Platforms from $688.00 to $765.00 and gave the company a "buy" rating 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $719.26.

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Meta Platforms Trading Down 0.4 %

Shares of NASDAQ META opened at $625.66 on Monday. The business has a 50 day simple moving average of $656.91 and a 200 day simple moving average of $600.95. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The stock has a market cap of $1.59 trillion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current 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 EPS for the quarter, topping 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 quarter last year, the business posted $5.33 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is currently 8.78%.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. This represents a 14.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 5,060 shares of the firm'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 value of $3,727,550.20. Following the completion of the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 761,907 shares of company stock worth $496,008,888. 13.71% of the stock is owned by corporate insiders.

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.

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