Pursue Wealth Partners LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Pursue Wealth Partners LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 69.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,447 shares of the social networking company’s stock after buying an additional 2,240 shares during the period. Meta Platforms accounts for about 1.2% of Pursue Wealth Partners LLC’s portfolio, making the stock its 24th largest position. Pursue Wealth Partners LLC’s holdings in Meta Platforms were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in META. Daiwa Securities Group Inc. grew its holdings in Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Bank of Stockton boosted its stake in Meta Platforms by 9.2% in the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after purchasing an additional 400 shares in the last quarter. Signify Wealth acquired a new stake in Meta Platforms in the 4th quarter worth approximately $228,000. Illinois Municipal Retirement Fund boosted its stake in Meta Platforms by 1.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after purchasing an additional 4,025 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its stake in Meta Platforms by 1.5% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.4 %

NASDAQ:META traded up $1.91 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 company has a quick ratio of 2.67, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. The business has a fifty day moving average of $494.48 and a 200-day moving average of $404.85. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week 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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts expect that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wolfe Research lowered their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday. JMP Securities reissued a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Bank of America raised their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI raised their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, BMO Capital Markets raised their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.18.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 37,228 shares in the company, valued at $18,288,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 37,228 shares in the company, valued at $18,288,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the company’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 value of $45,601,669.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,349,148 shares of company stock worth $649,552,559. Company insiders own 13.75% of the company’s stock.

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.