Trueblood Wealth Management LLC Invests $213,000 in Meta Platforms, Inc. (NASDAQ:META)

Trueblood Wealth Management LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 602 shares of the social networking company’s stock, valued at approximately $213,000.

A number of other hedge funds have also modified their holdings of META. Johnson Bixby & Associates LLC boosted its holdings in Meta Platforms by 15.8% in the fourth quarter. Johnson Bixby & Associates LLC now owns 3,426 shares of the social networking company’s stock worth $1,213,000 after purchasing an additional 468 shares in the last quarter. FLC Capital Advisors boosted its holdings in Meta Platforms by 1.6% in the fourth quarter. FLC Capital Advisors now owns 7,875 shares of the social networking company’s stock worth $2,787,000 after purchasing an additional 122 shares in the last quarter. Morton Capital Management LLC CA boosted its holdings in Meta Platforms by 2.5% in the fourth quarter. Morton Capital Management LLC CA now owns 1,974 shares of the social networking company’s stock worth $699,000 after purchasing an additional 49 shares in the last quarter. Good Life Advisors LLC boosted its holdings in Meta Platforms by 1.6% in the fourth quarter. Good Life Advisors LLC now owns 10,902 shares of the social networking company’s stock worth $3,859,000 after purchasing an additional 172 shares in the last quarter. Finally, WealthCare Investment Partners LLC bought a new stake in Meta Platforms during the fourth quarter valued at about $200,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on META. JMP Securities upped their price target on shares of Meta Platforms from $410.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Barclays upped their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Wells Fargo & Company upped their price objective on shares of Meta Platforms from $536.00 to $609.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Wolfe Research upped their price objective on shares of Meta Platforms from $430.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Canaccord Genuity Group upped their price objective on shares of Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $496.35.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,504,435 shares of company stock valued at $703,629,367. Company insiders own 13.75% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $485.58 on Friday. The company’s 50 day moving average price is $467.03 and its two-hundred day moving average price is $376.07. Meta Platforms, Inc. has a 12-month low of $202.54 and a 12-month high of $523.57. The firm has a market cap of $1.24 trillion, a PE ratio of 32.59, a PEG ratio of 1.28 and a beta of 1.21. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter in the prior year, the business posted $3.00 EPS. The business’s revenue was up 24.7% compared to the same quarter last year. Equities research analysts predict that Meta Platforms, Inc. will post 19.94 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

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.