Wise Wealth Partners Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Wise Wealth Partners bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 602 shares of the social networking company's stock, valued at approximately $352,000. Meta Platforms makes up 0.9% of Wise Wealth Partners' holdings, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $40,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $41,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the 4th quarter worth approximately $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 position in Meta Platforms during the fourth quarter valued at $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares of the company's stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $545.17, for a total value of $502,101.57. Following the transaction, the insider now directly owns 26,577 shares of the company's stock, valued at approximately $14,488,983.09. The trade was 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 worth $167,207,524. Insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $24.81 during trading hours on Friday, hitting $597.02. The company's stock had a trading volume of 24,702,127 shares, compared to its average volume of 14,463,475. The company has a market cap of $1.51 trillion, a PE ratio of 24.96, a PEG ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business has a 50 day moving average price of $576.50 and a two-hundred day moving average price of $603.54. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly 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 company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the firm earned $4.71 EPS. The firm's revenue was up 16.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.35%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is presently 8.78%.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Moffett Nathanson raised their price target on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday. Argus set a $775.00 target price on shares of Meta Platforms in a report on Tuesday, February 4th. Robert W. Baird increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wolfe Research increased their target price on Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $688.63.

Meta Platforms Company 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.