Resonant Capital Advisors LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Resonant Capital Advisors LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,341 shares of the social networking company’s stock after purchasing an additional 509 shares during the period. Resonant Capital Advisors LLC’s holdings in Meta Platforms were worth $6,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC grew its position in shares of Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after buying an additional 808 shares during the last quarter. UMB Bank n.a. grew its position in shares of Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after buying an additional 897 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Meta Platforms by 0.9% in 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 buying an additional 118,298 shares during the last quarter. LS Investment Advisors LLC grew its position in shares of Meta Platforms by 111.4% in the 3rd 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. Finally, Cutter & CO Brokerage Inc. grew its position in shares of Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.4 %

NASDAQ META opened at $714.52 on Friday. The business has a fifty day moving average price of $627.23 and a 200 day moving average price of $573.70. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $725.01. 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 has a market cap of $1.80 trillion, a P/E ratio of 29.87, a P/E/G ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company posted $5.33 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 25.94 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 8.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on META. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target for the company in a report on Thursday, January 30th. Wolfe Research boosted their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Scotiabank lifted their price target on Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $710.83.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 14,746 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.53, for a total transaction of $8,162,353.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Clegg sold 1,131 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $652,767.96. Following the transaction, the insider now owns 1,229 shares of the company’s stock, valued at $709,329.64. This trade represents a 47.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 701,146 shares of company stock valued at $435,387,895. 13.71% of the stock is owned by insiders.

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.