Petros Family Wealth LLC Invests $775,000 in Meta Platforms, Inc. (NASDAQ:META)

Petros Family Wealth LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,323 shares of the social networking company’s stock, valued at approximately $775,000.

Several other large investors have also added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $40,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the fourth quarter valued at $41,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $43,000. Cordant Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $59,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $543.39, for a total transaction of $500,462.19. Following the completion of the transaction, the insider now owns 29,340 shares in the company, valued at $15,943,062.60. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 487,453 shares of company stock valued at $326,680,904. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on META shares. The Goldman Sachs Group boosted their price target on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Robert W. Baird boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Piper Sandler decreased their price objective on shares of Meta Platforms from $775.00 to $610.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Oppenheimer increased their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two equities research 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $701.38.

Meta Platforms Trading Down 0.5 %

NASDAQ META opened at $543.57 on Friday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The business’s fifty day moving average is $628.35 and its 200 day moving average is $609.11. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.38 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 quarter in the previous year, the company earned $5.33 EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio 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.