1,053 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Momentous Wealth Management Inc.

Momentous Wealth Management Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,053 shares of the social networking company’s stock, valued at approximately $617,000. Meta Platforms accounts for about 0.5% of Momentous Wealth Management Inc.’s investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in META. Vanguard Group Inc. boosted its position in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Meta Platforms by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after acquiring an additional 424,201 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after acquiring an additional 186,728 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after acquiring an additional 110,040 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on META. Mizuho upped their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Piper Sandler increased their price target on Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. UBS Group lifted their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada raised their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Meta Platforms Stock Down 2.4 %

META opened at $610.98 on Thursday. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a fifty day moving average price of $656.12 and a 200-day moving average price of $608.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 company posted $5.33 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.34%. Meta Platforms’s payout ratio is presently 8.78%.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the completion of the sale, the chief operating officer now owns 6,838 shares of the company’s stock, valued at $4,205,164.86. The trade was a 8.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 586,213 shares of company stock valued at $387,084,349 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.