Meta Platforms, Inc. (NASDAQ:META) is BNC Wealth Management LLC’s 8th Largest Position

BNC Wealth Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.2% during the fourth quarter, Holdings Channel reports. The firm owned 15,335 shares of the social networking company’s stock after buying an additional 1,033 shares during the quarter. Meta Platforms makes up approximately 3.0% of BNC Wealth Management LLC’s portfolio, making the stock its 8th biggest position. BNC Wealth Management LLC’s holdings in Meta Platforms were worth $8,979,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new stake in Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the third quarter valued at approximately $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the fourth quarter worth $41,000. Halpern Financial Inc. purchased a new position in Meta Platforms during the third quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $49,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. This represents a 3.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders sold a total of 495,269 shares of company stock valued at $300,888,396 in the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.2 %

Shares of NASDAQ META opened at $612.77 on Tuesday. 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 firm has a 50-day simple moving average of $597.37 and a two-hundred day simple moving average of $557.77. Meta Platforms, Inc. has a 1 year low of $370.95 and a 1 year high of $638.40. The company has a market cap of $1.55 trillion, a P/E ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its earnings results 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current 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 issued a dividend of $0.50 per share. 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 0.33%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Pivotal Research boosted their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wolfe Research boosted their price target on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Sanford C. Bernstein raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Barclays increased their target price on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.05.

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.