Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,135 shares of the social networking company’s stock after buying an additional 36 shares during the quarter. Meta Platforms makes up about 1.3% of Atlantic Edge Private Wealth Management LLC’s holdings, making the stock its 19th largest position. Atlantic Edge Private Wealth Management LLC’s holdings in Meta Platforms were worth $4,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in META. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the 3rd quarter valued at about $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the fourth quarter worth approximately $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Reston Wealth Management LLC acquired a new position in Meta Platforms in the 3rd quarter worth approximately $61,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on META shares. Pivotal Research increased their target price on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Roth Mkm upped their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Arete Research upgraded shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, Monness Crespi & Hardt increased their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $717.90.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $736.67 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $638.73 and a 200 day moving average of $584.28. The firm has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $5.33 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio is presently 8.36%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the sale, the chief operating officer now owns 19,579 shares of the company’s stock, valued at $11,018,473.83. The trade was a 2.07 % 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 35,921 shares of the business’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 disclosure for this sale can be found here. Insiders sold 751,033 shares of company stock valued at $480,911,671 in the last three months. 13.71% of the stock is owned by insiders.

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.