PBMares Wealth Management LLC Has $987,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

PBMares Wealth Management LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,687 shares of the social networking company’s stock after selling 31 shares during the period. PBMares Wealth Management LLC’s holdings in Meta Platforms were worth $987,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter worth about $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the 4th quarter worth about $41,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at about $49,000. Finally, Cordant Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Arete Research upgraded shares of Meta Platforms to a “hold” rating in a report on Friday, January 24th. KeyCorp raised their target price on Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Susquehanna upped their price target on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $710.83.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $706.72, for a total transaction of $9,169,692.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at approximately $121,588,349.12. This trade represents a 7.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $702.24, for a total value of $635,527.20. Following the completion of the sale, the insider now owns 28,390 shares in the company, valued at $19,936,593.60. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 701,146 shares of company stock worth $435,387,895. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $711.99 on Friday. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $718.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 1.47 and a beta of 1.20. The firm’s 50 day simple moving average is $624.43 and its 200 day simple moving average is $572.13.

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, 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 last year, the company earned $5.33 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 25.94 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Meta Platforms 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.