601 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by MGO Private Wealth LLC

MGO Private Wealth LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 601 shares of the social networking company’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC raised its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings 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 valued at $31,000 after buying an additional 42 shares in the last quarter. PayPay Securities Corp increased its holdings in Meta Platforms by 65.2% in the third 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 in the last quarter. Cranbrook Wealth Management LLC increased its holdings 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 valued at $36,000 after buying an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated 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 transaction, the insider now 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 hyperlink. In related news, COO Javier Olivan sold 6,500 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.00, for a total value of $2,600,000.00. Following the completion of the transaction, the chief operating officer now owns 68,935 shares in the company, valued at approximately $27,574,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated 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 transaction, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,349,148 shares of company stock worth $649,552,559. Insiders own 13.75% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $1.91 during trading on Friday, hitting $443.29. 32,645,619 shares of the stock were exchanged, compared to its average volume of 18,233,678. The stock’s fifty day moving average is $494.48 and its 200 day moving average is $404.85. The stock has a market cap of $1.13 trillion, a PE ratio of 25.46, a P/E/G ratio of 1.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $229.85 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during 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, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.2 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared 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. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

META has been the subject of a number of recent analyst reports. Robert W. Baird cut their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday. Morgan Stanley boosted their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Piper Sandler reissued an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday. Guggenheim cut their target price on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday. One equities research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.