TruWealth Advisors LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,926 shares of the social networking company's stock after acquiring an additional 781 shares during the period. TruWealth Advisors LLC's holdings in Meta Platforms were worth $10,496,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Lindenwold Advisors INC grew its position in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after acquiring an additional 17 shares during the last quarter. Insight Wealth Strategies LLC boosted its stake in shares of Meta Platforms by 1.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company's stock valued at $625,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC grew its holdings in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock worth $3,271,000 after purchasing an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC increased its stake in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock worth $2,199,000 after buying an additional 18 shares during the period. Finally, Alliance Wealth Advisors LLC lifted its holdings in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Stock Performance
Shares of NASDAQ:META traded up $3.69 during trading on Tuesday, hitting $616.46. The stock had a trading volume of 11,571,246 shares, compared to its average volume of 13,100,104. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $381.16 and a 12-month high of $638.40. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The stock has a 50-day simple moving average of $597.37 and a two-hundred day simple moving average of $557.77.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly 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 during 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 research analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given 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 yield of 0.32%. Meta Platforms's dividend payout ratio is presently 9.42%.
Insider Buying and Selling at Meta Platforms
In related news, insider Nicholas Clegg sold 7,296 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. The trade was a 15.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the sale, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 495,269 shares of company stock valued at $300,888,396. 13.71% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of brokerages have commented on META. Raymond James upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "strong-buy" rating in a research note on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Truist Financial lifted their target price on Meta Platforms from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Piper Sandler increased their price target on Meta Platforms from $650.00 to $670.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price objective on Meta Platforms from $641.00 to $685.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Two 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $651.27.
Get Our Latest Stock Report on META
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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