Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 34.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,228 shares of the social networking company’s stock after purchasing an additional 13,043 shares during the quarter. Merit Financial Group LLC’s holdings in Meta Platforms were worth $29,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JDM Financial Group LLC acquired a new stake in Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the fourth quarter worth approximately $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the third quarter valued at approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total transaction of $547,108.70. Following the completion of the transaction, the insider now owns 31,105 shares in the company, valued at approximately $18,804,216.70. This trade represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 496,174 shares of company stock valued at $301,408,499. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $612.77 on Friday. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40. The company has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. The stock has a fifty day moving average of $596.78 and a two-hundred day moving average of $556.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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 annualized dividend and a yield of 0.33%. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Susquehanna lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

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.