1,034 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,034 shares of the social networking company’s stock, valued at approximately $605,000.

A number of other large investors have also recently bought and sold shares of the stock. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $36,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $41,000. Finally, Cordant Inc. acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $59,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $576.74 on Friday. The stock has a market cap of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The stock has a 50-day moving average price of $655.23 and a two-hundred day moving average price of $608.48. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced 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 posted $5.33 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $589.16, for a total value of $243,323.08. Following the completion of the transaction, the chief operating officer now owns 17,514 shares in the company, valued at $10,318,548.24. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total value of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares in the company, valued at approximately $19,477,780.40. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 584,823 shares of company stock worth $386,274,777. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. Truist Financial raised their price target on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Barclays lifted 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. DA Davidson increased their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Susquehanna boosted their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research note on Thursday, January 30th. Finally, Pivotal Research upped their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two investment 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

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.