Journey Strategic Wealth LLC Has $8.52 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Journey Strategic Wealth LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,544 shares of the social networking company’s stock after buying an additional 2,789 shares during the period. Meta Platforms comprises approximately 0.3% of Journey Strategic Wealth LLC’s investment portfolio, making the stock its 23rd biggest position. Journey Strategic Wealth LLC’s holdings in Meta Platforms were worth $8,515,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. JDM Financial Group LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the fourth quarter valued at $41,000. West Financial Advisors LLC bought a new position in Meta Platforms during the 3rd quarter worth $49,000. Finally, Cordant Inc. acquired a new position in Meta Platforms during the 4th quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $2,918,698.12. Following the completion of the sale, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at $4,943,375.40. This represents a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 700,241 shares of company stock valued at $434,752,368. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on META shares. Wolfe Research increased their price target on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wedbush restated an “outperform” rating and set a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Scotiabank boosted their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Truist Financial increased their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group boosted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $710.83.

Meta Platforms Stock Up 0.1 %

Meta Platforms stock opened at $704.87 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market cap of $1.78 trillion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $718.14. The firm’s 50-day simple moving average is $621.57 and its 200 day simple moving average is $571.15.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm earned $5.33 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 25.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.36%.

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.