Avaii Wealth Management LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Avaii Wealth Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,615 shares of the social networking company’s stock after purchasing an additional 157 shares during the period. Meta Platforms comprises about 0.8% of Avaii Wealth Management LLC’s portfolio, making the stock its 18th biggest position. Avaii Wealth Management LLC’s holdings in Meta Platforms were worth $1,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC boosted its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter worth $39,000. Cranbrook Wealth Management LLC raised its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Finally, PayPay Securities Corp raised its position in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META traded down $11.49 during mid-day trading on Monday, hitting $431.80. 11,656,896 shares of the stock were exchanged, compared to its average volume of 18,300,350. The company has a market cap of $1.10 trillion, a P/E ratio of 25.07, a PEG ratio of 1.15 and a beta of 1.20. The stock’s fifty day simple moving average is $494.48 and its two-hundred day simple moving average is $405.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders 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 yield of 0.46%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the sale, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $517.75, for a total value of $253,697.50. Following the completion of the transaction, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the transaction, the insider now directly owns 37,228 shares of the company’s stock, valued at $18,288,255. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,277,048 shares of company stock valued at $620,679,759. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. KeyCorp decreased their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Monness Crespi & Hardt boosted their price target on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Roth Mkm boosted their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday. Rosenblatt Securities boosted their target price on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Mizuho increased their target price on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

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.