Curio Wealth LLC Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

Curio Wealth LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 956 shares of the social networking company’s stock, valued at approximately $560,000.

A number of other institutional investors have also recently added to or reduced their stakes in META. Seelaus Asset Management LLC lifted its position in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning raised its stake in Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares in the last quarter. Maiden Cove Capital LLC lifted its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares during the period. Stephens Consulting LLC boosted its stake in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares in the last quarter. Finally, VeraBank N.A. grew its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after purchasing an additional 16 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.3 %

META opened at $586.00 on Friday. The firm’s fifty day simple moving average is $655.77 and its 200 day simple moving average is $604.56. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 24.50, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $5.33 EPS. As a group, research 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. Investors 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 0.36%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total value of $535,542.80. Following the transaction, the insider now owns 32,915 shares in the company, valued at approximately $19,477,780.40. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $590.00, for a total value of $243,670.00. Following the transaction, the chief operating officer now owns 17,927 shares in the company, valued at $10,576,930. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 622,844 shares of company stock valued at $409,212,161. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on META shares. Bank of America lifted their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. DA Davidson increased their price target on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets raised their price target on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group boosted their price objective on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $718.31.

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.