Baker Tilly Wealth Management LLC Has $4.52 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Baker Tilly Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,725 shares of the social networking company’s stock after buying an additional 415 shares during the quarter. Meta Platforms makes up approximately 1.8% of Baker Tilly Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. Baker Tilly Wealth Management LLC’s holdings in Meta Platforms were worth $4,523,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC boosted its stake in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in Meta Platforms in the second quarter worth $595,152,000. World Investment Advisors LLC increased its stake in Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after purchasing an additional 890,434 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META traded up $7.79 during midday trading on Friday, hitting $618.51. 5,475,796 shares of the company traded hands, compared to its average volume of 10,765,066. Meta Platforms, Inc. has a one year low of $358.61 and a one year high of $638.40. The firm has a market cap of $1.56 trillion, a P/E ratio of 29.13, a PEG ratio of 1.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a 50-day moving average of $592.65 and a 200-day moving average of $552.16.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 410,536 shares of company stock valued at $249,024,275 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on META. Truist Financial upped their price target on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Bank of America increased their target price on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $646.90.

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.