NRI Wealth Management LC Makes New $594,000 Investment in Meta Platforms, Inc. (NASDAQ:META)

NRI Wealth Management LC bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, HoldingsChannel reports. The fund bought 1,014 shares of the social networking company’s stock, valued at approximately $594,000. Meta Platforms makes up approximately 0.4% of NRI Wealth Management LC’s portfolio, making the stock its 22nd largest holding.

Other institutional investors have also recently made changes to their positions in the company. Lindenwold Advisors INC grew its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares during the period. Central Valley Advisors LLC boosted its position in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its holdings in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC increased its position in shares of Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. raised its stake in shares of Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein boosted 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. Piper Sandler raised their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Truist Financial boosted their price objective on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Two investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $640.20.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total value of $243,323.08. Following the completion of the sale, the chief operating officer now directly owns 17,514 shares of the company’s stock, valued at $10,318,548.24. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,116 shares of company stock valued at $198,171,544. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $599.24 on Friday. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $343.17 and a 12 month 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. The business has a 50-day moving average of $589.25 and a 200 day moving average of $548.19.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is presently 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.