Integrated Wealth Concepts LLC Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Integrated Wealth Concepts LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,019 shares of the social networking company's stock after purchasing an additional 6,503 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Meta Platforms were worth $35,727,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Seelaus Asset Management LLC grew its holdings in Meta Platforms by 0.9% during the 4th 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 in the last quarter. Meredith Wealth Planning raised its holdings in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after acquiring an additional 15 shares in the last quarter. Maiden Cove Capital LLC grew its holdings in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Riverwater Partners LLC increased its position in shares of Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares during the last quarter. Finally, Stephens Consulting LLC raised its stake in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock valued at $186,000 after purchasing an additional 16 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on META. Wolfe Research upped their price objective on Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. DA Davidson reduced their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley lowered their target price on shares of Meta Platforms from $660.00 to $615.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Susquehanna raised their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a "positive" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their target price on Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $676.55.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $644.76, for a total transaction of $23,160,423.96. The disclosure for this sale can be found here. Insiders sold 343,068 shares of company stock worth $237,676,335 in the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 4.1 %

META opened at $520.79 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a market capitalization of $1.32 trillion, a P/E ratio of 21.77, a P/E/G ratio of 1.42 and a beta of 1.28. 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 firm's fifty day moving average price is $594.44 and its two-hundred day moving average price is $605.11.

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 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 earnings per share. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.40%. Meta Platforms's dividend payout ratio is presently 8.78%.

Meta Platforms 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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