Integrity Wealth Advisors Inc. Invests $571,000 in Meta Platforms, Inc. (NASDAQ:META)

Integrity Wealth Advisors Inc. acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 975 shares of the social networking company's stock, valued at approximately $571,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at $19,949,512,000. Proficio Capital Partners LLC lifted its stake in shares of Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Meta Platforms in the fourth quarter worth about $2,243,603,000. Arrowstreet Capital Limited Partnership grew its holdings in Meta Platforms by 27.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after purchasing an additional 1,892,509 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after buying an additional 1,502,553 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on META. Oppenheimer increased their target price on Meta Platforms from $650.00 to $800.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Robert W. Baird boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Citigroup decreased their price target on shares of Meta Platforms from $780.00 to $655.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Cantor Fitzgerald cut their price objective on Meta Platforms from $790.00 to $624.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Truist Financial reduced their target price on Meta Platforms from $770.00 to $700.00 and set a "buy" rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $684.10.

Insider Buying and Selling

In other news, COO Javier Olivan sold 4,706 shares of the business's stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares of the company's stock, valued at $15,422,186.45. The trade was a 18.35 % decrease in their position. The sale was disclosed in a filing 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 Wednesday, January 22nd. The stock was sold at an average price of $626.80, for a total transaction of $22,515,282.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 379,901 shares of company stock worth $260,806,516. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

META traded down $0.83 during midday trading on Friday, reaching $501.48. 14,540,656 shares of the company's stock were exchanged, compared to its average volume of 14,827,120. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The stock has a market capitalization of $1.27 trillion, a PE ratio of 20.96, a P/E/G ratio of 1.42 and a beta of 1.28. The business's 50-day moving average price is $608.14 and its 200 day moving average price is $606.80.

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, topping 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 period in the previous year, the business earned $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed 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 was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.42%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is currently 8.78%.

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.