Wrapmanager Inc. Acquires 379 Shares of Meta Platforms, Inc. (NASDAQ:META)

Wrapmanager Inc. boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,429 shares of the social networking company’s stock after purchasing an additional 379 shares during the quarter. Meta Platforms makes up approximately 1.3% of Wrapmanager Inc.’s holdings, making the stock its 18th biggest position. Wrapmanager Inc.’s holdings in Meta Platforms were worth $4,935,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC boosted its position in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after acquiring an additional 808 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after purchasing an additional 897 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares in the last quarter. Finally, Apollon Financial LLC increased its holdings in shares of Meta Platforms by 11.1% in the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after purchasing an additional 148 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays raised 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. Scotiabank raised their target price on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Wolfe Research boosted their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Robert W. Baird increased their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group boosted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $719.26.

Meta Platforms Stock Up 1.5 %

Meta Platforms stock opened at $668.20 on Monday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.69 trillion, a P/E ratio of 27.93, a P/E/G ratio of 1.42 and a beta of 1.20. The business has a fifty day moving average of $653.18 and a two-hundred day moving average of $597.08. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 quarter in the previous year, the company posted $5.33 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is presently 8.78%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $595.00, for a total value of $538,475.00. Following the completion of the sale, the insider now directly owns 36,535 shares of the company’s stock, valued at approximately $21,738,325. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 813,538 shares of company stock worth $526,326,729 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.