Private Wealth Partners LLC Purchases 3,535 Shares of Meta Platforms, Inc. (NASDAQ:META)

Private Wealth Partners LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 148.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,914 shares of the social networking company’s stock after acquiring an additional 3,535 shares during the quarter. Private Wealth Partners LLC’s holdings in Meta Platforms were worth $2,093,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of META. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $39,000. Cranbrook Wealth Management LLC increased its stake in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. Finally, PayPay Securities Corp increased its stake in shares of Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META traded up $1.91 during trading on Friday, reaching $443.29. 32,645,619 shares of the company’s stock were exchanged, compared to its average volume of 18,233,678. The business has a 50 day moving average price of $494.48 and a 200-day moving average price of $404.85. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 25.46, a PEG ratio of 1.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.2 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 10,956 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the sale, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The disclosure for this sale can be found here. Insiders sold a total of 1,349,148 shares of company stock worth $649,552,559 over the last quarter. Company insiders own 13.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on META shares. Canaccord Genuity Group raised their price target on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wolfe Research reduced their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Susquehanna lifted their target price on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $509.18.

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.