Defined Wealth Management LLC Buys 35 Shares of Meta Platforms, Inc. (NASDAQ:META)

Defined Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 645 shares of the social networking company’s stock after purchasing an additional 35 shares during the quarter. Defined Wealth Management LLC’s holdings in Meta Platforms were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. JDM Financial Group LLC bought a new stake in Meta Platforms in the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the third quarter valued at approximately $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the fourth quarter valued at approximately $41,000. Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms in the third quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on META. Guggenheim increased their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Citigroup increased their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Wolfe Research upped their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total transaction of $22,133,083.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total value of $547,108.70. Following the completion of the sale, the insider now owns 31,105 shares in the company, valued at approximately $18,804,216.70. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 496,174 shares of company stock valued at $301,408,499. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.2 %

Shares of NASDAQ META opened at $612.77 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $370.95 and a 12-month high of $638.40. The firm’s 50-day moving average price is $596.78 and its 200-day moving average price is $556.71. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.