613 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 613 shares of the social networking company's stock, valued at approximately $359,000.

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

Meta Platforms Trading Down 5.1 %

Shares of NASDAQ:META traded down $26.89 during trading on Friday, reaching $504.73. 38,506,424 shares of the company traded hands, compared to its average volume of 14,475,998. 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 52-week low of $414.50 and a 52-week high of $740.91. The business's fifty day moving average is $651.00 and its 200-day moving average is $609.95. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.42 and a beta of 1.28.

Remove Ads

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating 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 previous year, the company posted $5.33 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is currently 8.78%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $570.66, for a total value of $525,577.86. Following the completion of the sale, the insider now owns 30,261 shares of the company's stock, valued at $17,268,742.26. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 4,706 shares of the business's stock in a transaction on 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 transaction, the chief operating officer now directly owns 20,935 shares in the company, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 549,113 shares of company stock valued at $364,668,246 in the last 90 days. Insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on META. Jefferies Financial Group dropped their price target on shares of Meta Platforms from $810.00 to $725.00 and set a "buy" rating on the stock in a research note on Monday. Argus set a $775.00 target price on Meta Platforms in a research report on Tuesday, February 4th. Citigroup raised their price target on Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Wells Fargo & Company boosted their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, Susquehanna raised their target price on Meta Platforms from $675.00 to $800.00 and gave the stock a "positive" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $718.55.

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.