Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,167 shares of the social networking company’s stock after purchasing an additional 408 shares during the quarter. Meta Platforms comprises approximately 0.5% of Moss Adams Wealth Advisors LLC’s holdings, making the stock its 20th biggest position. Moss Adams Wealth Advisors LLC’s holdings in Meta Platforms were worth $4,782,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of META. Fiera Capital Corp boosted its position in Meta Platforms by 35.1% in the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after purchasing an additional 7,089 shares in the last quarter. Elite Wealth Management Inc. grew its position in Meta Platforms by 16.8% during the second quarter. Elite Wealth Management Inc. now owns 27,736 shares of the social networking company’s stock valued at $13,985,000 after buying an additional 3,981 shares during the period. King Luther Capital Management Corp increased its holdings in Meta Platforms by 68.5% in the second quarter. King Luther Capital Management Corp now owns 99,633 shares of the social networking company’s stock valued at $50,237,000 after buying an additional 40,504 shares in the last quarter. AE Wealth Management LLC raised its position in shares of Meta Platforms by 12.3% in the second quarter. AE Wealth Management LLC now owns 165,105 shares of the social networking company’s stock worth $83,250,000 after acquiring an additional 18,130 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Meta Platforms by 5.9% during the 2nd quarter. Pacer Advisors Inc. now owns 265,756 shares of the social networking company’s stock worth $133,999,000 after acquiring an additional 14,831 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the sale, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. This trade represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total value of $547,108.70. Following the sale, the insider now owns 31,105 shares of the company’s stock, valued at approximately $18,804,216.70. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 495,269 shares of company stock valued at $300,888,396. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on META shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wedbush boosted their price target on shares of Meta Platforms from $640.00 to $680.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. TD Cowen lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Susquehanna upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Meta Platforms Stock Performance

NASDAQ:META opened at $612.77 on Tuesday. Meta Platforms, Inc. has a 52 week low of $370.95 and a 52 week high of $638.40. The company has a fifty day simple moving average of $597.37 and a two-hundred day simple moving average of $557.77. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.