Sax Wealth Advisors LLC Acquires 519 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sax Wealth Advisors LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,712 shares of the social networking company's stock after buying an additional 519 shares during the quarter. Sax Wealth Advisors LLC's holdings in Meta Platforms were worth $2,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of META. International Assets Investment Management LLC grew its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the period. World Investment Advisors LLC grew its stake in shares of Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock worth $520,662,000 after purchasing an additional 890,434 shares during the last quarter. Geode Capital Management LLC increased its holdings in Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company's stock valued at $369,774,000 after purchasing an additional 661,923 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total transaction of $22,133,083.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 496,174 shares of company stock worth $301,408,499. Corporate insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $1.47 on Friday, hitting $612.77. 17,239,131 shares of the company's stock were exchanged, compared to its average volume of 10,812,479. 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 stock has a market capitalization of $1.55 trillion, a PE ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $370.95 and a 1 year high of $638.40. The company has a 50-day simple moving average of $596.78 and a 200-day simple moving average of $556.71.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results 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 company had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms's dividend payout ratio is currently 9.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Piper Sandler boosted their price objective on shares of Meta Platforms from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of Meta Platforms from $641.00 to $685.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $650.05.

Meta Platforms 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.