4WEALTH Advisors Inc. Takes Position in Meta Platforms, Inc. (NASDAQ:META)

4WEALTH Advisors Inc. purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,247 shares of the social networking company's stock, valued at approximately $730,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter worth $40,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the fourth quarter worth about $41,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms during the 4th quarter valued at approximately $45,000. Finally, Cordant Inc. purchased a new stake in Meta Platforms in the 4th quarter worth approximately $59,000. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 12,975 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $696.23, for a total value of $9,033,584.25. Following the transaction, the chief executive officer now directly owns 197,996 shares in the company, valued at approximately $137,850,755.08. This represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 406 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the transaction, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,017 shares of company stock valued at $167,207,524 over the last 90 days. Insiders own 13.71% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group raised their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday. KeyCorp lifted their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday. Monness Crespi & Hardt increased their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday. Pivotal Research reduced their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday. Finally, TD Securities lowered their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given 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 target price of $696.45.

Meta Platforms Trading Up 4.3 %

Shares of NASDAQ:META traded up $24.81 during trading on Friday, reaching $597.02. The company's stock had a trading volume of 24,702,127 shares, compared to its average volume of 14,455,871. The stock has a market capitalization of $1.51 trillion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month 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. The firm's 50 day simple moving average is $575.29 and its two-hundred day simple moving average is $603.80.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the business earned $4.71 EPS. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a $0.525 dividend. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is 8.19%.

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.