Meta Platforms, Inc. (NASDAQ:META) Holdings Raised by Proactive Wealth Strategies LLC

Proactive Wealth Strategies LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,249 shares of the social networking company’s stock after purchasing an additional 240 shares during the period. Proactive Wealth Strategies LLC’s holdings in Meta Platforms were worth $1,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of META. JDM Financial Group LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $41,000. Cordant Inc. bought a new stake in Meta Platforms in the fourth quarter worth $59,000. Finally, Reston Wealth Management LLC bought a new stake in Meta Platforms in the third quarter worth $61,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $577.49, for a total transaction of $238,503.37. Following the transaction, the chief operating officer now owns 19,166 shares of the company’s stock, valued at approximately $11,068,173.34. This represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 812,422 shares of company stock worth $525,534,818. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 2.3 %

NASDAQ META opened at $668.13 on Tuesday. The stock’s 50 day simple moving average is $647.97 and its 200 day simple moving average is $593.08. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The firm has a market cap of $1.69 trillion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company earned $5.33 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cantor Fitzgerald boosted their price target on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Wedbush reiterated an “outperform” rating and issued a $770.00 target price (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Finally, Susquehanna boosted their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $719.26.

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.