Meta Platforms, Inc. (NASDAQ:META) Position Boosted by MGO Private Wealth LLC

MGO Private Wealth LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 23.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 964 shares of the social networking company’s stock after buying an additional 183 shares during the period. MGO Private Wealth LLC’s holdings in Meta Platforms were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 1.5% in the 3rd 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 buying an additional 698,884 shares during the period. Jennison Associates LLC lifted its holdings in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Meta Platforms by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after acquiring an additional 424,201 shares during the period. Franklin Resources Inc. grew its holdings in shares of Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after purchasing an additional 110,040 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 22,035 shares of Meta Platforms stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $618.63, for a total transaction of $13,631,512.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the company’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,450 shares of company stock valued at $427,997,036 in the last quarter. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on META. UBS Group upped their price objective on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Oppenheimer increased their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Truist Financial lifted their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, four have assigned 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $719.26.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $604.90 on Tuesday. The stock has a market cap of $1.53 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. 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 business has a fifty day simple moving average of $657.51 and a 200-day simple moving average of $604.41.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 quarter in the previous year, the firm posted $5.33 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 8.78%.

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.