Alteri Wealth LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Alteri Wealth LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,090 shares of the social networking company's stock, valued at approximately $2,395,000. Meta Platforms makes up approximately 0.7% of Alteri Wealth LLC's portfolio, making the stock its 19th biggest position.

A number of other institutional investors also recently modified their holdings of META. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC raised its position in Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after buying an additional 1,020,519 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors boosted its holdings in Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Meta Platforms in the 4th quarter worth $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

META traded up $24.81 on Friday, reaching $597.02. The company had a trading volume of 24,702,127 shares, compared to its average volume of 14,455,871. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a market cap of $1.51 trillion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.42 and a beta of 1.24. The business has a 50 day simple moving average of $575.29 and a 200 day simple moving average of $603.99.

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

Meta Platforms Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Evercore ISI upped their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday. BMO Capital Markets increased their price target on Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Susquehanna cut their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $696.45.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 12,975 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $706.72, for a total transaction of $9,169,692.00. Following the transaction, the chief executive officer now owns 172,046 shares in the company, valued at $121,588,349.12. The trade was a 7.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $545.17, for a total transaction of $502,101.57. Following the completion of the sale, the insider now owns 26,577 shares of the company's stock, valued at $14,488,983.09. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 237,017 shares of company stock valued at $167,207,524. 13.71% of the stock is currently owned by company insiders.

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.