Wealth Management Partners LLC Has $1.36 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Wealth Management Partners LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,315 shares of the social networking company’s stock after buying an additional 381 shares during the quarter. Wealth Management Partners LLC’s holdings in Meta Platforms were worth $1,355,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the last quarter. LS Investment Advisors LLC increased its holdings in Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after buying an additional 6,155 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Meta Platforms by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after acquiring an additional 5,594 shares during the last quarter. Finally, M&G PLC grew its position in shares of Meta Platforms by 14.6% in the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock valued at $412,606,000 after acquiring an additional 91,773 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on META. Wolfe Research raised their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Guggenheim raised their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wedbush reissued an “outperform” rating and set a $700.00 target price (up from $680.00) on shares of Meta Platforms in a report on Wednesday. Monness Crespi & Hardt raised their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $652.98.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the transaction, the chief operating officer now owns 10,707 shares in the company, valued at $6,147,531.12. The trade was a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 567,111 shares of company stock valued at $345,453,784 in the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $623.50 on Thursday. The company’s 50 day moving average price is $598.87 and its two-hundred day moving average price is $558.76. The firm has a market capitalization of $1.57 trillion, a P/E ratio of 29.37, a P/E/G ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a fifty-two week low of $382.08 and a fifty-two week high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.