Horst & Graben Wealth Management LLC Buys 395 Shares of Meta Platforms, Inc. (NASDAQ:META)

Horst & Graben Wealth Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 68.9% in the fourth quarter, Holdings Channel reports. The fund owned 968 shares of the social networking company’s stock after acquiring an additional 395 shares during the period. Horst & Graben Wealth Management LLC’s holdings in Meta Platforms were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the third quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter valued at about $41,000. West Financial Advisors LLC bought a new position in shares of Meta Platforms in the third quarter valued at about $49,000. Finally, Cordant Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at about $59,000. 79.91% of the stock is owned by institutional investors.

Insider Activity

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on 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 sale, the chief technology officer now owns 8,565 shares of the company’s stock, valued at $4,943,375.40. This trade represents a 37.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 701,146 shares of company stock valued at $435,387,895. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. Piper Sandler lifted their price target on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Wells Fargo & Company boosted their price objective on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Finally, Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two equities research 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 given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $710.83.

Meta Platforms Trading Up 1.0 %

NASDAQ:META opened at $711.99 on Friday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $718.90. The company has a market cap of $1.80 trillion, a P/E ratio of 29.77, a price-to-earnings-growth 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. The business has a 50 day moving average price of $624.43 and a two-hundred day moving average price of $572.13.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $5.33 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 25.94 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s 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.