Prevail Innovative Wealth Advisors LLC Purchases Shares of 6,600 Meta Platforms, Inc. (NASDAQ:META)

Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,600 shares of the social networking company's stock, valued at approximately $3,864,000. Meta Platforms makes up 1.1% of Prevail Innovative Wealth Advisors LLC's holdings, making the stock its 25th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the third quarter worth $36,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the fourth quarter valued at $40,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms in the 4th quarter valued at $41,000. Finally, WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth $43,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 4,706 shares of the firm'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 $3,466,769.02. Following the completion of the sale, the chief operating officer now owns 20,935 shares of the company's stock, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 584,410 shares of company stock valued at $386,031,454. Company insiders own 13.71% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of research analysts have commented on META shares. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Wolfe Research upped their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. UBS Group lifted their target price on shares of Meta Platforms from $736.00 to $786.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Benchmark upgraded Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 price target on the stock in a research note on Thursday, January 30th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $770.00 price objective (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Two research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $718.55.

Meta Platforms Stock Performance

META stock traded down $0.38 on Monday, hitting $576.36. The company's stock had a trading volume of 21,103,853 shares, compared to its average volume of 14,265,834. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The firm has a 50 day moving average of $655.23 and a two-hundred day moving average of $609.90. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business earned $5.33 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is 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.