Jackson Wealth Management LLC Buys 2,069 Shares of Meta Platforms, Inc. (NASDAQ:META)

Jackson Wealth Management LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,493 shares of the social networking company’s stock after purchasing an additional 2,069 shares during the period. Jackson Wealth Management LLC’s holdings in Meta Platforms were worth $7,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. JDM Financial Group LLC bought a new position in Meta Platforms in the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter worth $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms in the fourth quarter valued at $59,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $61,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 0.4 %

META opened at $717.40 on Tuesday. The firm has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $725.01. The business has a 50 day simple moving average of $629.73 and a two-hundred day simple moving average of $576.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $5.33 earnings per share. Analysts predict that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. 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 dividend payout ratio is currently 8.36%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $702.24, for a total transaction of $635,527.20. Following the sale, the insider now owns 28,390 shares in the company, valued at approximately $19,936,593.60. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 756,735 shares of company stock valued at $475,285,232 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on META. Stifel Nicolaus raised their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Susquehanna boosted their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday, January 30th. Sanford C. Bernstein increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Roth Mkm increased their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.