Parkworth Wealth Management Inc. Buys Shares of 135 Meta Platforms, Inc. (NASDAQ:META)

Parkworth Wealth Management Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 135 shares of the social networking company’s stock, valued at approximately $79,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 4.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 16,360 shares of the social networking company’s stock worth $9,579,000 after purchasing an additional 708 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Meta Platforms by 10.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 173,632 shares of the social networking company’s stock worth $101,663,000 after purchasing an additional 16,244 shares during the last quarter. Saturna Capital Corp increased its position in shares of Meta Platforms by 12.0% in the fourth quarter. Saturna Capital Corp now owns 3,925 shares of the social networking company’s stock worth $2,298,000 after purchasing an additional 420 shares during the last quarter. Wealth High Governance Capital Ltda increased its position in shares of Meta Platforms by 24.2% in the fourth quarter. Wealth High Governance Capital Ltda now owns 37,262 shares of the social networking company’s stock worth $21,817,000 after purchasing an additional 7,262 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Meta Platforms by 3.6% in the fourth quarter. Moors & Cabot Inc. now owns 34,848 shares of the social networking company’s stock worth $20,404,000 after purchasing an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $590.00, for a total value of $243,670.00. Following the completion of the sale, the chief operating officer now directly owns 17,927 shares in the company, valued at approximately $10,576,930. This trade represents a 2.25 % 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, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $626.66, for a total value of $567,127.30. Following the completion of the sale, the insider now owns 34,725 shares of the company’s stock, valued at $21,760,768.50. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 654,355 shares of company stock worth $428,564,164 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on META. Pivotal Research upped their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Arete Research upgraded shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. UBS Group upped their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Piper Sandler increased their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $719.26.

Meta Platforms Price Performance

META opened at $607.60 on Monday. The stock has a fifty day simple moving average of $658.01 and a two-hundred day simple moving average of $603.80. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 in the prior year, the business earned $5.33 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. 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 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

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.