Chemistry Wealth Management LLC Purchases 438 Shares of Meta Platforms, Inc. (NASDAQ:META)

Chemistry Wealth Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,481 shares of the social networking company’s stock after acquiring an additional 438 shares during the quarter. Meta Platforms accounts for about 2.8% of Chemistry Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Chemistry Wealth Management LLC’s holdings in Meta Platforms were worth $11,992,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the 3rd quarter valued at $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the 4th quarter valued at $41,000. Halpern Financial Inc. purchased a new position in Meta Platforms in the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total transaction of $22,746,973.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now directly owns 32,387 shares of the company’s stock, valued at $18,612,808.90. The trade was a 2.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 496,174 shares of company stock valued at $301,408,499. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.2 %

NASDAQ META opened at $612.77 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40. The business has a 50 day moving average price of $596.78 and a two-hundred day moving average price of $556.71. The stock has a market cap of $1.55 trillion, a PE ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating 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 during 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 declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Guggenheim boosted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Susquehanna boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $650.05.

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.