Partners Wealth Management LLC Invests $238,000 in Meta Platforms, Inc. (NASDAQ:META)

Partners Wealth Management LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 407 shares of the social networking company’s stock, valued at approximately $238,000.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on META. Mizuho upped their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley upped their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Barclays increased their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. The trade was a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the transaction, the chief technology officer now directly owns 5,139 shares of the company’s stock, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 813,951 shares of company stock worth $526,565,232. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $668.20 on Friday. The business has a fifty day moving average price of $653.18 and a two-hundred day moving average price of $596.59. The stock has a market capitalization of $1.69 trillion, a PE ratio of 27.93, a P/E/G ratio of 1.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 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 in the prior year, the firm earned $5.33 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

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.