1,303 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Members Wealth LLC

Members Wealth LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,303 shares of the social networking company's stock, valued at approximately $763,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $47,000. Finally, Conquis Financial LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total value of $328,506.97. Following the completion of the transaction, the chief operating officer now directly owns 10,438 shares of the company's stock, valued at $6,632,409.58. This trade represents a 4.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,664 shares of company stock valued at $35,484,670 in the last three months. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

NASDAQ META traded down $2.82 on Friday, reaching $642.23. The company had a trading volume of 16,230,863 shares, compared to its average volume of 14,491,179. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a market capitalization of $1.61 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The firm's 50 day moving average price is $578.56 and its 200 day moving average price is $610.83. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data 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 net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the company posted $4.71 EPS. The business's revenue was up 16.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms's payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Rosenblatt Securities upped their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Susquehanna dropped their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Loop Capital upped their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Truist Financial upped their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Barclays dropped their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

About Meta Platforms

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.