Broadway Wealth Solutions Inc. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 758 shares of the social networking company's stock, valued at approximately $444,000. Meta Platforms comprises about 0.3% of Broadway Wealth Solutions Inc.'s holdings, making the stock its 28th biggest holding.
Other institutional investors have also added to or reduced their stakes in the company. Boussard & Gavaudan Investment Management LLP bought a new stake in Meta Platforms in the fourth quarter valued at approximately $14,973,000. New Age Alpha Advisors LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $19,835,000. Covington Investment Advisors Inc. raised its stake in Meta Platforms by 12.1% in the 4th quarter. Covington Investment Advisors Inc. now owns 16,551 shares of the social networking company's stock valued at $9,691,000 after acquiring an additional 1,790 shares during the period. Norges Bank bought a new position in Meta Platforms during the fourth quarter worth $19,949,512,000. Finally, Caisse Des Depots ET Consignations bought a new position in Meta Platforms during the fourth quarter worth $19,085,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on META shares. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Truist Financial increased their target price on Meta Platforms from $700.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. KeyCorp reduced their price target on Meta Platforms from $750.00 to $710.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Jefferies Financial Group lowered their price objective on Meta Platforms from $810.00 to $725.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Mizuho boosted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $718.55.
View Our Latest Stock Analysis on META
Meta Platforms Stock Performance
Shares of NASDAQ:META traded up $9.18 during mid-day trading on Tuesday, reaching $585.54. The company had a trading volume of 4,736,049 shares, compared to its average volume of 14,230,178. The company's 50-day moving average price is $654.50 and its 200-day moving average price is $610.25. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the firm posted $5.33 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is 8.78%.
Insider Activity at Meta Platforms
In other news, CTO Andrew Bosworth sold 5,060 shares of the company's stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the transaction, the insider now owns 31,182 shares of the company's stock, valued at $19,552,673.10. This trade represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 583,505 shares of company stock worth $385,495,911. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Profile
(
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.
Featured Articles
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
