Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 83.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,718 shares of the social networking company’s stock after buying an additional 2,146 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Meta Platforms were worth $2,762,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new stake in Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 3rd quarter valued at about $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the 4th quarter valued at about $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $59,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Meta Platforms in the third quarter worth about $61,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.4 %

META opened at $717.40 on Tuesday. The firm has a market cap 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. The business has a fifty day simple moving average of $629.73 and a 200-day simple moving average of $576.95. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week 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.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 period last year, the firm earned $5.33 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued 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 yield of 0.28%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction 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 approximately $19,936,593.60. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 756,735 shares of company stock worth $475,285,232. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on META. JMP Securities restated a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. UBS Group upped their target price on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Rosenblatt Securities restated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. The Goldman Sachs Group upped their target price on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company upped their target price on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $710.83.

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.