BNC Wealth Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,335 shares of the social networking company's stock after buying an additional 1,033 shares during the quarter. Meta Platforms accounts for 3.0% of BNC Wealth Management LLC's investment portfolio, making the stock its 8th largest holding. BNC Wealth Management LLC's holdings in Meta Platforms were worth $8,979,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in META. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at approximately $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Meta Platforms Price Performance
META stock traded up $3.69 during trading on Tuesday, hitting $616.46. The company had a trading volume of 11,584,932 shares, compared to its average volume of 13,100,104. The business has a 50 day moving average of $597.37 and a 200 day moving average of $557.77. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a fifty-two week low of $381.16 and a fifty-two week high of $638.40.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms's dividend payout ratio (DPR) is 9.42%.
Insider Buying and Selling at Meta Platforms
In other news, CAO Aaron Anderson sold 731 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $613.85, for a total transaction of $22,050,105.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 531,190 shares of company stock valued at $322,938,501. Corporate insiders own 13.71% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on META shares. Roth Mkm lifted their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a "buy" rating in a report on Monday, October 14th. Bank of America raised their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an "overweight" rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, Raymond James raised their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a "strong-buy" rating in a research report on Tuesday. Two equities 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $651.27.
View Our Latest Stock Report on Meta Platforms
About Meta Platforms
(
Free Report)
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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