Meta Platforms, Inc. (NASDAQ:META) is SeaCrest Wealth Management LLC’s 10th Largest Position

SeaCrest Wealth Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 8.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 22,628 shares of the social networking company’s stock after purchasing an additional 1,781 shares during the period. Meta Platforms makes up about 1.4% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 10th largest position. SeaCrest Wealth Management LLC’s holdings in Meta Platforms were worth $13,249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in META. JDM Financial Group LLC bought a new stake in Meta Platforms in the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new stake in Meta Platforms in the 4th quarter worth approximately $41,000. Halpern Financial Inc. bought a new stake in Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms in the 3rd quarter worth approximately $49,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $617.12 on Thursday. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The firm’s 50-day moving average is $595.02 and its 200 day moving average is $554.81. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business 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 of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Insiders have sold 495,682 shares of company stock worth $301,101,199 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Bank of America lifted their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Mizuho boosted their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, BMO Capital Markets boosted 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $650.05.

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.