Syntegra Private Wealth Group LLC Acquires 194 Shares of Meta Platforms, Inc. (NASDAQ:META)

Syntegra Private Wealth Group LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 19.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,190 shares of the social networking company’s stock after purchasing an additional 194 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Meta Platforms were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management bought a new stake in Meta Platforms during the 4th quarter worth about $41,000. Cordant Inc. bought a new stake in Meta Platforms during the 4th quarter worth about $59,000. Finally, Reston Wealth Management LLC bought a new stake in Meta Platforms during the 3rd quarter worth about $61,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at $11,018,473.83. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 756,735 shares of company stock valued at $475,285,232. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on META. KeyCorp increased their price objective on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BMO Capital Markets increased their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Royal Bank of Canada upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company upped their target price 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. Two research analysts have rated the stock with a sell rating, four have given 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, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $710.83.

Meta Platforms Price Performance

Shares of META opened at $717.40 on Tuesday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $725.01. 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 company has a 50 day moving average of $629.73 and a 200-day moving average of $576.95. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 29.99, a P/E/G ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the firm earned $5.33 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. Meta Platforms’s dividend 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.