Financial Management Network Inc. Boosts Position in Meta Platforms, Inc. (NASDAQ:META)

Financial Management Network Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 39.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,309 shares of the social networking company’s stock after acquiring an additional 653 shares during the quarter. Financial Management Network Inc.’s holdings in Meta Platforms were worth $813,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Peterson Wealth Advisors LLC boosted its position in shares of Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after purchasing an additional 28 shares in the last quarter. Edge Wealth Management LLC boosted its position in shares of Meta Platforms by 4.0% in the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after purchasing an additional 28 shares in the last quarter. Yarger Wealth Strategies LLC boosted its position in shares of Meta Platforms by 4.0% in the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after purchasing an additional 28 shares in the last quarter. Curated Wealth Partners LLC boosted its position in shares of Meta Platforms by 1.8% in the 4th quarter. Curated Wealth Partners LLC now owns 1,602 shares of the social networking company’s stock worth $567,000 after purchasing an additional 29 shares in the last quarter. Finally, Courier Capital LLC boosted its position in shares of Meta Platforms by 1.7% in the 4th quarter. Courier Capital LLC now owns 1,843 shares of the social networking company’s stock worth $652,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on META shares. Monness Crespi & Hardt raised their target price on Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus raised their target price on Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays raised their target price on Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Sanford C. Bernstein raised their target price on Meta Platforms from $435.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Wolfe Research raised their target price on Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $496.35.

View Our Latest Stock Report on Meta Platforms

Meta Platforms Trading Up 1.2 %

META stock opened at $497.37 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $523.57. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 33.38, a PEG ratio of 1.25 and a beta of 1.20. The business’s 50-day moving average is $473.50 and its 200 day moving average is $381.00.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same period in the previous year, the firm posted $3.00 EPS. Meta Platforms’s revenue was up 24.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 13.42%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $351.47, for a total transaction of $6,917,281.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $351.47, for a total transaction of $6,917,281.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,502,805 shares of company stock worth $703,056,383 in the last ninety days. Insiders own 14.03% of the company’s stock.

About Meta Platforms

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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