Meta Platforms, Inc. (NASDAQ:META) Stake Raised by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,080 shares of the social networking company’s stock after buying an additional 596 shares during the quarter. Meta Platforms accounts for about 2.8% of Precision Wealth Strategies LLC’s portfolio, making the stock its 8th largest holding. Precision Wealth Strategies LLC’s holdings in Meta Platforms were worth $3,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $7,915,451,000 after buying an additional 118,298 shares in the last quarter. 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. increased its holdings in Meta Platforms by 2.8% in 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 in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $704.87 on Thursday. The company has a market cap of $1.78 trillion, a P/E ratio of 29.47, a P/E/G ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $718.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a 50-day moving average of $621.57 and a two-hundred day moving average of $571.15.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $5.33 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced 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 of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

Insider Buying and Selling

In other news, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $706.72, for a total value of $9,169,692.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $121,588,349.12. This trade represents a 7.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 700,241 shares of company stock valued at $434,752,368 in the last three months. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on META. Piper Sandler increased their target price on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. 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. Roth Mkm boosted their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, DA Davidson boosted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $710.83.

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.