Alterna Wealth Management Inc. Buys 53 Shares of Meta Platforms, Inc. (NASDAQ:META)

Alterna Wealth Management Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,922 shares of the social networking company’s stock after buying an additional 53 shares during the quarter. Meta Platforms comprises 0.9% of Alterna Wealth Management Inc.’s portfolio, making the stock its 28th biggest holding. Alterna Wealth Management Inc.’s holdings in Meta Platforms were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on META. Barclays raised their price target on Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Raymond James restated a “strong-buy” rating and set a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Morgan Stanley raised their price target on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup raised their price target on Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Wedbush restated an “outperform” rating and set a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $710.83.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $702.24, for a total value of $635,527.20. Following the completion of the transaction, the insider now owns 28,390 shares of the company’s stock, valued at approximately $19,936,593.60. This represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $2,918,698.12. Following the completion of the transaction, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at $4,943,375.40. The trade was a 37.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 701,146 shares of company stock worth $435,387,895 over the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 1.0 %

Meta Platforms stock opened at $711.99 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business’s 50-day simple moving average is $624.43 and its two-hundred day simple moving average is $572.13. The company has a market cap of $1.80 trillion, a PE ratio of 29.77, a PEG ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $718.90.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 quarter in the prior year, the firm posted $5.33 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Announces Dividend

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 of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. Meta Platforms’s payout ratio is 8.36%.

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.