National Wealth Management Group LLC Has $1.87 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

National Wealth Management Group LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 59.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,287 shares of the social networking company's stock after purchasing an additional 1,981 shares during the period. Meta Platforms comprises 1.8% of National Wealth Management Group LLC's holdings, making the stock its 15th largest holding. National Wealth Management Group LLC's holdings in Meta Platforms were worth $1,871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. WoodTrust Financial Corp increased its position in Meta Platforms by 1.8% in the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company's stock valued at $548,000 after acquiring an additional 27 shares during the period. Tennessee Valley Asset Management Partners increased its position in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company's stock valued at $1,616,000 after acquiring an additional 27 shares during the period. Peterson Wealth Advisors LLC increased its position in Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company's stock valued at $520,000 after acquiring an additional 28 shares during the period. Edge Wealth Management LLC increased its position in shares of Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company's stock worth $258,000 after buying an additional 28 shares during the period. Finally, Yarger Wealth Strategies LLC increased its position in shares of Meta Platforms by 4.0% during the fourth quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company's stock worth $260,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a "market perform" rating in a research report on Friday, February 2nd. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $500.00 to $555.00 and gave the stock a "buy" rating in a research report on Monday, April 15th. Citigroup increased their price objective on shares of Meta Platforms from $525.00 to $590.00 and gave the stock a "buy" rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Meta Platforms from $450.00 to $525.00 and gave the stock a "buy" rating in a research report on Friday, February 2nd. Finally, Truist Financial increased their price objective on shares of Meta Platforms from $525.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $520.28.

Meta Platforms Stock Up 0.1 %

Shares of META traded up $0.66 during trading hours on Monday, reaching $481.73. 17,232,840 shares of the stock traded hands, compared to its average volume of 17,160,061. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $494.81 and a 200 day simple moving average of $401.23. Meta Platforms, Inc. has a 52 week low of $207.13 and a 52 week high of $531.49. The company has a market cap of $1.23 trillion, a price-to-earnings ratio of 32.33, a PEG ratio of 1.22 and a beta of 1.20.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company's revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.00 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms's dividend payout ratio is 13.42%.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the sale, the chief operating officer now owns 79,944 shares of the company's stock, valued at $39,015,070.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $385.00, for a total value of $217,910.00. Following the completion of the transaction, the insider now owns 35,286 shares in the company, valued at $13,585,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares of the company's stock, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,392,501 shares of company stock valued at $666,506,318. Company insiders own 14.03% of the company's stock.

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.

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