My Legacy Advisors LLC Purchases 701 Shares of Meta Platforms, Inc. (NASDAQ:META)

My Legacy Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 52.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,030 shares of the social networking company’s stock after buying an additional 701 shares during the period. My Legacy Advisors LLC’s holdings in Meta Platforms were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fiera Capital Corp lifted its stake in Meta Platforms by 35.1% during the second 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 during the period. Evolutionary Tree Capital Management LLC lifted its position in shares of Meta Platforms by 19.0% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 6,391 shares of the social networking company’s stock worth $3,222,000 after buying an additional 1,022 shares during the period. Kowal Investment Group LLC boosted its stake in Meta Platforms by 14.6% in the 2nd quarter. Kowal Investment Group LLC now owns 4,580 shares of the social networking company’s stock valued at $2,310,000 after buying an additional 585 shares in the last quarter. Circle Wealth Management LLC grew its position in Meta Platforms by 41.1% in the second quarter. Circle Wealth Management LLC now owns 14,603 shares of the social networking company’s stock valued at $7,363,000 after acquiring an additional 4,254 shares during the period. Finally, Holderness Investments Co. raised its stake in Meta Platforms by 3.4% during the second quarter. Holderness Investments Co. now owns 5,265 shares of the social networking company’s stock worth $2,655,000 after acquiring an additional 171 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $616.46 on Wednesday. The stock has a 50-day moving average price of $598.00 and a two-hundred day moving average price of $558.31. Meta Platforms, Inc. has a 1 year low of $381.16 and a 1 year high of $638.40. The stock has a market cap of $1.56 trillion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Buying and Selling

In other news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 14,746 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.53, for a total value of $8,162,353.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 531,190 shares of company stock worth $322,938,501. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on META. Wolfe Research upped their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. BMO Capital Markets raised their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price target on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. UBS Group lifted their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Raymond James increased their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $651.27.

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.