Destiny Wealth Partners LLC Acquires 121 Shares of Meta Platforms, Inc. (NASDAQ:META)

Destiny Wealth Partners LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,401 shares of the social networking company’s stock after buying an additional 121 shares during the quarter. Destiny Wealth Partners LLC’s holdings in Meta Platforms were worth $4,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JDM Financial Group LLC bought a new position in Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $41,000. West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, Cordant Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $59,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on META shares. Truist Financial increased their price objective on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wedbush reissued an “outperform” rating and issued a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Bank of America boosted their price target on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $710.83.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 12,975 shares of Meta Platforms stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $706.72, for a total value of $9,169,692.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares of the company’s stock, valued at approximately $121,588,349.12. This trade represents a 7.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the company’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 $2,918,698.12. Following the sale, the chief technology officer now owns 8,565 shares in the company, valued at approximately $4,943,375.40. The trade was a 37.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 700,241 shares of company stock worth $434,752,368. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $704.87 on Thursday. The stock has a market cap of $1.78 trillion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 1.47 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $718.14. The company’s fifty day moving average is $621.57 and its 200 day moving average is $571.15.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating 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 firm posted $5.33 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 8.36%.

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.