BXM Wealth LLC Acquires Shares of 609 Meta Platforms, Inc. (NASDAQ:META)

BXM Wealth LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 609 shares of the social networking company's stock, valued at approximately $357,000.

Several other large investors have also recently made changes to their positions in the company. AMF Tjanstepension AB lifted its position in Meta Platforms by 32.5% during the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company's stock valued at $261,680,000 after purchasing an additional 112,047 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock worth $946,000 after buying an additional 251 shares during the last quarter. Leo Wealth LLC lifted its holdings in shares of Meta Platforms by 17.5% in the 3rd quarter. Leo Wealth LLC now owns 7,642 shares of the social networking company's stock valued at $4,375,000 after acquiring an additional 1,137 shares during the last quarter. Waldron Private Wealth LLC lifted its holdings in shares of Meta Platforms by 2.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 26,964 shares of the social networking company's stock valued at $15,435,000 after acquiring an additional 526 shares during the last quarter. Finally, RBA Wealth Management LLC purchased a new position in Meta Platforms in the third quarter worth about $4,870,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of META stock opened at $683.62 on Friday. The stock's 50-day moving average is $647.09 and its 200 day moving average is $590.57. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year 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. The company has a market cap of $1.73 trillion, a P/E ratio of 28.58, a PEG ratio of 1.44 and a beta of 1.20.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating 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 period in the previous year, the company posted $5.33 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on META. Wells Fargo & Company raised their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Tigress Financial raised their price target on Meta Platforms from $645.00 to $935.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, February 11th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group lifted their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $717.90.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the transaction, the chief operating officer now owns 19,579 shares in the company, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold a total of 810,217 shares of company stock worth $523,808,864 in the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Company Profile

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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