Perfromance Wealth Partners LLC Has $34.79 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Perfromance Wealth Partners LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,425 shares of the social networking company's stock after purchasing an additional 1,307 shares during the period. Meta Platforms comprises about 1.1% of Perfromance Wealth Partners LLC's investment portfolio, making the stock its 15th largest position. Perfromance Wealth Partners LLC's holdings in Meta Platforms were worth $34,794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in META. JDM Financial Group LLC acquired a new position in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the 4th quarter valued at about $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms during the third quarter worth about $49,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the transaction, the chief operating officer now directly owns 10,294 shares of the company's stock, valued at approximately $5,842,668.52. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the transaction, the insider now directly owns 31,482 shares in the company, valued at $18,262,708.20. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,016 shares of company stock valued at $346,031,180 over the last three months. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Up 1.7 %

NASDAQ META traded up $11.04 during trading hours on Friday, reaching $647.49. 19,039,689 shares of the company's stock were exchanged, compared to its average volume of 9,840,293. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company's 50-day moving average is $601.93 and its two-hundred day moving average is $560.33. Meta Platforms, Inc. has a one year low of $385.66 and a one year high of $652.00.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. The business 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, analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of Meta Platforms from $641.00 to $685.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Truist Financial lifted their price objective on Meta Platforms from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Robert W. Baird increased their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. UBS Group lifted their price target on Meta Platforms from $690.00 to $719.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given 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, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $654.20.

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.