MinichMacGregor Wealth Management LLC Buys 417 Shares of Meta Platforms, Inc. (NASDAQ:META)

MinichMacGregor Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 58.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,135 shares of the social networking company's stock after purchasing an additional 417 shares during the period. MinichMacGregor Wealth Management LLC's holdings in Meta Platforms were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of META. JDM Financial Group LLC bought a new stake in Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter valued at approximately $41,000. Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter valued at $49,000. Institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $641.00 to $685.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Hsbc Global Res raised shares of Meta Platforms to a "hold" rating in a report on Thursday, October 24th. Two investment 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. According to MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $654.20.

Meta Platforms Trading Up 1.7 %

Meta Platforms stock traded up $11.04 during trading hours on Friday, reaching $647.49. The company had a trading volume of 19,039,689 shares, compared to its average volume of 9,840,293. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 12-month low of $385.66 and a 12-month high of $652.00. The company has a 50-day moving average price of $601.93 and a 200 day moving average price of $560.51. The firm has a market cap of $1.63 trillion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date 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 is currently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $618.00, for a total value of $559,290.00. Following the completion of the transaction, the insider now directly owns 30,200 shares in the company, valued at approximately $18,663,600. This represents a 2.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Tuesday, December 3rd. The shares were 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. Over the last ninety days, insiders sold 568,016 shares of company stock worth $346,031,180. Company insiders own 13.71% of the company's stock.

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.