Good Life Advisors LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Good Life Advisors LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,902 shares of the social networking company’s stock after purchasing an additional 172 shares during the period. Good Life Advisors LLC’s holdings in Meta Platforms were worth $3,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Peterson Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 1.9% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after acquiring an additional 28 shares in the last quarter. Edge Wealth Management LLC grew its position in Meta Platforms by 4.0% in the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after purchasing an additional 28 shares during the last quarter. Curated Wealth Partners LLC boosted its position in shares of Meta Platforms by 1.8% during the 4th quarter. Curated Wealth Partners LLC now owns 1,602 shares of the social networking company’s stock valued at $567,000 after acquiring an additional 29 shares in the last quarter. Courier Capital LLC lifted its holdings in Meta Platforms by 1.7% during the 4th quarter. Courier Capital LLC now owns 1,843 shares of the social networking company’s stock valued at $652,000 after purchasing an additional 31 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in shares of Meta Platforms by 1.1% in the third quarter. SRS Capital Advisors Inc. now owns 3,013 shares of the social networking company’s stock worth $905,000 after acquiring an additional 32 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 1.7 %

NASDAQ:META traded down $8.28 during trading hours on Thursday, hitting $485.58. The stock had a trading volume of 15,062,981 shares, compared to its average volume of 17,904,395. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $202.54 and a 1-year high of $523.57. The business has a 50 day simple moving average of $464.84 and a two-hundred day simple moving average of $375.30. The company has a market cap of $1.24 trillion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. Analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. Meta Platforms’s payout ratio is presently 13.42%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on META. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $405.00 to $527.00 and gave the company a “buy” rating in a report on Friday, February 2nd. UBS Group boosted their price objective on shares of Meta Platforms from $425.00 to $530.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI upped their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Sanford C. Bernstein increased their price objective on shares of Meta Platforms from $435.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Tigress Financial increased their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $496.35.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 31,493 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $511.13, for a total value of $16,097,017.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,504,435 shares of company stock worth $703,629,367. 13.75% of the stock is currently owned by company insiders.

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.