Foguth Wealth Management LLC. Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Foguth Wealth Management LLC. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 17.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 604 shares of the social networking company’s stock after purchasing an additional 91 shares during the quarter. Foguth Wealth Management LLC.’s holdings in Meta Platforms were worth $391,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

META has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $770.00 price target (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. KeyCorp raised their price target on shares of Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Robert W. Baird raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BMO Capital Markets raised their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Mizuho raised their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given 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 has a consensus rating of “Moderate Buy” and a consensus target price of $710.83.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Friday, November 15th. The shares were 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 directly owns 8,565 shares of the company’s stock, valued at approximately $4,943,375.40. The trade was a 37.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 756,735 shares of company stock valued at $475,285,232 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $717.40 on Tuesday. 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, Inc. has a 52 week low of $414.50 and a 52 week high of $725.01. The stock has a market capitalization of $1.82 trillion, a PE ratio of 29.99, a P/E/G ratio of 1.46 and a beta of 1.20. The firm has a 50 day moving average of $629.73 and a two-hundred day moving average of $576.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the firm posted $5.33 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 26.66 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a 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.