Impact Partnership Wealth LLC Acquires 226 Shares of Meta Platforms, Inc. (NASDAQ:META)

Impact Partnership Wealth LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,170 shares of the social networking company’s stock after acquiring an additional 226 shares during the period. Impact Partnership Wealth LLC’s holdings in Meta Platforms were worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 603,032 shares of company stock worth $368,666,614. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Stifel Nicolaus upped their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. UBS Group increased their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a report on Monday. TD Cowen increased their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Mizuho lifted their price target on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $654.20.

Meta Platforms Trading Up 1.9 %

NASDAQ META opened at $659.88 on Tuesday. The stock’s 50 day moving average is $604.04 and its 200 day moving average is $561.55. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.67 trillion, a PE ratio of 31.08, a P/E/G ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a twelve month low of $387.10 and a twelve month high of $663.87.

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 net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is currently 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.