GC Wealth Management RIA LLC Has $5.22 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

GC Wealth Management RIA LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 30.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,917 shares of the social networking company’s stock after acquiring an additional 2,072 shares during the quarter. Meta Platforms makes up approximately 0.9% of GC Wealth Management RIA LLC’s investment portfolio, making the stock its 24th largest position. GC Wealth Management RIA LLC’s holdings in Meta Platforms were worth $5,221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JDM Financial Group LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the fourth quarter valued at $41,000. Cordant Inc. bought a new position in shares of Meta Platforms in the 4th quarter valued at about $59,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Meta Platforms during the 3rd quarter worth about $70,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total value of $547,995.00. Following the completion of the transaction, the insider now directly owns 33,024 shares of the company’s stock, valued at approximately $19,649,280. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 690,689 shares of company stock valued at $451,269,409. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $607.60 on Friday. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The stock has a fifty day simple moving average of $658.01 and a 200 day simple moving average of $603.19.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 period in the previous year, the business earned $5.33 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group boosted their price target on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Susquehanna lifted their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research report on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $719.26.

About Meta Platforms

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.