Meta Platforms, Inc. (NASDAQ:META) is Institute for Wealth Management LLC.’s 6th Largest Position

Institute for Wealth Management LLC. trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,241 shares of the social networking company’s stock after selling 34 shares during the period. Meta Platforms makes up 1.5% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 6th largest holding. Institute for Wealth Management LLC.’s holdings in Meta Platforms were worth $11,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC grew its position in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. grew its position in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares during the period. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the period. Finally, Franklin Resources Inc. grew its position in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after buying an additional 186,728 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the completion of the transaction, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at $4,943,375.40. The trade was a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 673,878 shares of company stock valued at $416,269,904 in the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 1.0 %

NASDAQ:META opened at $704.19 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $710.79. The stock has a market capitalization of $1.78 trillion, a P/E ratio of 29.44, a P/E/G ratio of 1.47 and a beta of 1.20. 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 company’s 50-day simple moving average is $618.86 and its 200-day simple moving average is $570.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the company posted $5.33 EPS. On average, equities analysts anticipate that Meta Platforms, Inc. will post 25.94 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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is currently 8.36%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their target price on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Oppenheimer upped their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $710.83.

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.