Hedeker Wealth LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Hedeker Wealth LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,892 shares of the social networking company’s stock after acquiring an additional 59 shares during the period. Meta Platforms comprises about 1.6% of Hedeker Wealth LLC’s portfolio, making the stock its 19th biggest holding. Hedeker Wealth LLC’s holdings in Meta Platforms were worth $6,377,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Oakworth Capital Inc. grew its stake in shares of Meta Platforms by 40.4% during the 4th quarter. Oakworth Capital Inc. now owns 1,056 shares of the social networking company’s stock valued at $618,000 after acquiring an additional 304 shares during the period. McHugh Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $583,000. Buck Wealth Strategies LLC bought a new stake in Meta Platforms during the 4th quarter valued at approximately $213,000. Silver Oak Securities Incorporated lifted its holdings in Meta Platforms by 18.7% in the 4th quarter. Silver Oak Securities Incorporated now owns 7,452 shares of the social networking company’s stock worth $4,406,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Geneva Partners LLC boosted its stake in Meta Platforms by 7.6% in the 4th quarter. Geneva Partners LLC now owns 18,877 shares of the social networking company’s stock worth $11,053,000 after purchasing an additional 1,330 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

META has been the topic of several research analyst reports. Tigress Financial boosted their target price on shares of Meta Platforms from $645.00 to $935.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Truist Financial raised their price objective on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Arete Research raised Meta Platforms to a “hold” rating in a research note on Friday, January 24th. KeyCorp lifted their price objective on Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wolfe Research increased their target price on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Two research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $717.90.

Meta Platforms Stock Up 0.3 %

Meta Platforms stock opened at $719.80 on Wednesday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $725.01. The business has a fifty day moving average of $631.85 and a two-hundred day moving average of $578.74. The firm has a market cap of $1.82 trillion, a P/E ratio of 30.09, a P/E/G ratio of 1.46 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted 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 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. 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 payout ratio is presently 8.36%.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 18,644 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.55, for a total value of $10,320,386.20. Following the completion of the transaction, the chief financial officer now directly owns 46,769 shares of the company’s stock, valued at $25,888,979.95. This trade represents a 28.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold 756,735 shares of company stock valued at $475,285,232 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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.