Resonant Capital Advisors LLC Acquires 2,857 Shares of Meta Platforms, Inc. (NASDAQ:META)

Resonant Capital Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 97.9% during the 4th quarter, Holdings Channel reports. The firm owned 5,775 shares of the social networking company’s stock after purchasing an additional 2,857 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Meta Platforms were worth $2,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. WoodTrust Financial Corp increased its position in Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after purchasing an additional 27 shares during the period. Tennessee Valley Asset Management Partners raised its stake in Meta Platforms by 0.6% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after buying an additional 27 shares during the last quarter. Peterson Wealth Advisors LLC raised its position in shares of Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after purchasing an additional 28 shares during the last quarter. Edge Wealth Management LLC increased its stake in Meta Platforms by 4.0% during the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after purchasing an additional 28 shares in the last quarter. Finally, Yarger Wealth Strategies LLC lifted its stake in shares of Meta Platforms by 4.0% during the fourth quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after buying an additional 28 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 4.4 %

META traded down $22.25 during trading hours on Friday, hitting $479.55. 19,833,345 shares of the company’s stock were exchanged, compared to its average volume of 17,077,623. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $531.49. The firm has a market cap of $1.22 trillion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. The firm has a 50 day moving average of $494.29 and a 200 day moving average of $397.43.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same period last year, the firm earned $3.00 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. Analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 13.42%.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total value of $291,675.15. Following the sale, the insider now directly owns 37,813 shares in the company, valued at approximately $18,853,183.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the sale, the insider now directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,421,182 shares of company stock worth $677,574,550. Company insiders own 13.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on META shares. Wells Fargo & Company cut their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. UBS Group upped their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “buy” rating in a report on Tuesday. Roth Mkm reissued a “buy” rating and set a $500.00 target price on shares of Meta Platforms in a report on Monday, March 18th. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $500.00 to $555.00 and gave the company a “buy” rating in a report on Monday. Finally, Wedbush raised their price objective on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.53.

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.