National Wealth Management Group LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

National Wealth Management Group LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,585 shares of the social networking company’s stock after purchasing an additional 1,017 shares during the quarter. Meta Platforms accounts for 2.6% of National Wealth Management Group LLC’s holdings, making the stock its 9th biggest holding. National Wealth Management Group LLC’s holdings in Meta Platforms were worth $3,856,000 as of its most recent filing with the SEC.

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

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $611.10, for a total value of $21,951,323.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $612.10, for a total transaction of $252,797.30. Following the transaction, the chief operating officer now directly owns 17,101 shares in the company, valued at approximately $10,467,522.10. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 583,505 shares of company stock worth $385,495,911 in the last ninety days. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on META shares. Robert W. Baird upped their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Truist Financial upped their price target on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Wedbush reiterated an “outperform” rating and issued a $770.00 price objective (up from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Finally, Piper Sandler raised their target price on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.55.

Meta Platforms Trading Down 0.1 %

Shares of NASDAQ META opened at $576.36 on Tuesday. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 24.10, a PEG ratio of 1.42 and a beta of 1.23. The stock’s 50 day moving average price is $654.50 and its two-hundred day moving average price is $610.25. 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 52-week low of $414.50 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the firm posted $5.33 earnings per share. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

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.