617 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Partners in Financial Planning

Partners in Financial Planning purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 617 shares of the social networking company’s stock, valued at approximately $361,000.

A number of other hedge funds also recently made changes to their positions in META. JDM Financial Group LLC bought a new position in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management bought a new stake in Meta Platforms in the fourth quarter valued at $41,000. Finally, WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter worth $43,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total transaction of $535,542.80. Following the transaction, the insider now owns 32,915 shares of the company’s stock, valued at $19,477,780.40. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the sale, the chief technology officer now directly owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,410 shares of company stock valued at $386,031,454 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

META has been the topic of several analyst reports. Arete Research raised shares of Meta Platforms to a “hold” rating in a report on Friday, January 24th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Argus set a $775.00 price target on Meta Platforms in a report on Tuesday, February 4th. Finally, Piper Sandler boosted their price objective on Meta Platforms from $670.00 to $775.00 and gave the stock 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $718.31.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $576.74 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The stock’s 50-day moving average is $655.23 and its 200-day moving average is $609.90. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91.

Meta Platforms (NASDAQ:META) last released its 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the business posted $5.33 EPS. Equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

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

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.