Wayfinding Financial LLC Purchases Shares of 2,635 Meta Platforms, Inc. (NASDAQ:META)

Wayfinding Financial LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,635 shares of the social networking company's stock, valued at approximately $1,542,000. Meta Platforms comprises 0.8% of Wayfinding Financial LLC's investment portfolio, making the stock its 25th largest position.

Several other hedge funds also recently made changes to their positions in META. Proficio Capital Partners LLC lifted its holdings in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the period. Integrated Investment Consultants LLC raised 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 valued at $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $2,243,603,000. Strategic Financial Concepts LLC lifted its stake in Meta Platforms by 87,269.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock worth $625,125,000 after acquiring an additional 1,066,437 shares during the period. Finally, World Investment Advisors LLC boosted its holdings in 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 valued at $520,662,000 after acquiring an additional 890,434 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the completion of the transaction, the chief operating officer now directly owns 6,838 shares of the company's stock, valued at approximately $4,205,164.86. This trade represents a 8.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 586,213 shares of company stock worth $387,084,349. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

META stock traded down $8.40 during midday trading on Thursday, reaching $602.58. 10,412,777 shares of the company's stock traded hands, compared to its average volume of 13,822,847. The stock's 50-day moving average is $656.12 and its 200 day moving average is $608.02. The stock has a market cap of $1.53 trillion, a P/E ratio of 25.19, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. 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 (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the company posted $5.33 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.35%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is currently 8.78%.

Analysts Set New Price Targets

Several research firms have recently commented on META. The Goldman Sachs Group raised their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Bank of America upped their target price on Meta Platforms from $710.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Citigroup raised their target price on Meta Platforms from $753.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Cantor Fitzgerald upped their price target on Meta Platforms from $720.00 to $790.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, KeyCorp lowered their price objective on Meta Platforms from $750.00 to $710.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $718.31.

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.