Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 36.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 844 shares of the social networking company’s stock after purchasing an additional 227 shares during the period. Trueblood Wealth Management LLC’s holdings in Meta Platforms were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of META. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter valued at $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the fourth quarter worth $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the third quarter worth about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Mizuho increased their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Susquehanna boosted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Wolfe Research raised their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $651.27.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the sale, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This trade represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 420 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the transaction, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at $310,890,460.68. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 531,190 shares of company stock worth $322,938,501. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.6 %

Shares of NASDAQ:META opened at $616.46 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50 day simple moving average of $598.00 and a 200-day simple moving average of $558.31. The company has a market capitalization of $1.56 trillion, a PE ratio of 29.04, a P/E/G ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a twelve month low of $381.16 and a twelve month high of $638.40.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.