Arcadia Wealth Management Inc. Purchases Shares of 1,025 Meta Platforms, Inc. (NASDAQ:META)

Arcadia Wealth Management Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,025 shares of the social networking company's stock, valued at approximately $600,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC boosted its position in Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP lifted its position in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $459,000. Apollon Financial LLC lifted its position in shares of Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after purchasing an additional 148 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after purchasing an additional 1,229,350 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.2%

Shares of META stock traded up $1.47 during trading hours on Thursday, hitting $645.05. 8,844,705 shares of the company were exchanged, compared to its average volume of 14,448,186. The business has a 50 day moving average of $577.74 and a two-hundred day moving average of $610.01. 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 $442.65 and a 52 week high of $740.91. The company has a market capitalization of $1.62 trillion, a PE ratio of 26.97, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data 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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio is 8.19%.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now owns 16,463 shares of the company's stock, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,628 shares of company stock valued at $34,826,386 over the last quarter. Corporate insiders own 13.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on META shares. Evercore ISI upped their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. UBS Group upped their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Citigroup upped their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Roth Capital upped their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Oppenheimer upped their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.