Chemistry Wealth Management LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,481 shares of the social networking company's stock after acquiring an additional 438 shares during the quarter. Meta Platforms accounts for about 2.8% of Chemistry Wealth Management LLC's portfolio, making the stock its 9th biggest holding. Chemistry Wealth Management LLC's holdings in Meta Platforms were worth $11,992,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC lifted its stake in shares of Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company's stock valued at $6,686,000 after purchasing an additional 6,155 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company's stock worth $5,573,000 after acquiring an additional 65 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company's stock valued at $235,872,000 after acquiring an additional 5,594 shares during the last quarter. Finally, M&G PLC raised its stake in shares of Meta Platforms by 14.6% in the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company's stock valued at $412,606,000 after acquiring an additional 91,773 shares in the last quarter. Institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
META has been the topic of several analyst reports. Guggenheim increased their price target on Meta Platforms from $600.00 to $665.00 and gave the company a "buy" rating in a report on Monday, October 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Truist Financial boosted their target price on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Wells Fargo & Company increased their target price on Meta Platforms from $641.00 to $685.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, four have assigned 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $650.05.
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Meta Platforms Price Performance
NASDAQ META traded up $1.47 on Friday, hitting $612.77. 17,239,131 shares of the company were exchanged, compared to its average volume of 10,812,479. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40. The firm has a 50 day moving average of $596.78 and a two-hundred day moving average of $557.04. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.55 trillion, a P/E ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms's dividend payout ratio is currently 9.42%.
Insider Buying and Selling
In related news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares of the company's stock, valued at $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock valued at $301,408,499 over the last ninety days. Insiders own 13.71% of the company's stock.
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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