Perfromance Wealth Partners LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Perfromance Wealth Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 59,425 shares of the social networking company’s stock after buying an additional 1,307 shares during the period. Meta Platforms makes up approximately 1.1% of Perfromance Wealth Partners LLC’s holdings, making the stock its 15th largest holding. Perfromance Wealth Partners LLC’s holdings in Meta Platforms were worth $34,794,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Lindenwold Advisors INC boosted its position in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares in the last quarter. Insight Wealth Strategies LLC raised its stake in shares of Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after buying an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in shares of Meta Platforms by 0.6% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after buying an additional 17 shares in the last quarter. Central Valley Advisors LLC increased its holdings in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares in the last quarter. Finally, Cherrydale Wealth Management LLC raised its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total value of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares of the company’s stock, valued at approximately $18,262,708.20. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 568,016 shares of company stock worth $346,031,180 in the last three months. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on META. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Susquehanna boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. KeyCorp upped their price objective on Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Citigroup boosted their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two research 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 MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $654.20.

Meta Platforms Trading Up 1.7 %

META opened at $647.49 on Friday. The firm’s 50 day moving average is $601.93 and its 200-day moving average is $560.12. Meta Platforms, Inc. has a 52-week low of $385.66 and a 52-week high of $652.00. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a P/E/G ratio of 1.18 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 (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm 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%. Analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.