Meta Platforms, Inc. (NASDAQ:META) Position Raised by Spire Wealth Management

Spire Wealth Management lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,812 shares of the social networking company’s stock after purchasing an additional 7,246 shares during the quarter. Meta Platforms comprises 1.3% of Spire Wealth Management’s portfolio, making the stock its 10th biggest holding. Spire Wealth Management’s holdings in Meta Platforms were worth $43,218,000 as of its most recent filing with the SEC.

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

Meta Platforms Trading Up 1.0 %

NASDAQ:META opened at $711.99 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $624.43 and a 200-day simple moving average of $572.13. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $718.90. The company has a market capitalization of $1.80 trillion, a P/E ratio of 29.77, a PEG ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued 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 quarter in the previous year, the company posted $5.33 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 25.94 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Cantor Fitzgerald upped their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target for the company in a research note on Thursday, January 30th. TD Cowen increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $710.83.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the completion of the transaction, the chief technology officer now owns 8,565 shares in the company, valued at approximately $4,943,375.40. This trade represents a 37.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was 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 owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 701,146 shares of company stock worth $435,387,895. 13.71% of the stock is owned by company insiders.

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.