Inman Jager Wealth Management LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Inman Jager Wealth Management LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 432 shares of the social networking company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC lifted its position in shares of Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Finally, National Pension Service lifted its position in shares of Meta Platforms by 14.6% in the third quarter. National Pension Service now owns 4,318,046 shares of the social networking company’s stock worth $2,471,822,000 after buying an additional 550,852 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Pivotal Research boosted their price objective on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler boosted their price objective on Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Bank of America boosted their price objective on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $710.83.

Meta Platforms Trading Up 0.4 %

Meta Platforms stock opened at $717.40 on Tuesday. 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 50-day simple moving average of $629.73 and a 200 day simple moving average of $576.95. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $725.01. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 29.99, a PEG ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the firm earned $5.33 EPS. Analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the sale, the chief technology officer now owns 8,565 shares in the company, valued at $4,943,375.40. The trade was a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 756,735 shares of company stock worth $475,285,232. Corporate insiders own 13.71% of the company’s stock.

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.