Meta Platforms, Inc. (NASDAQ:META) is Chemistry Wealth Management LLC’s 9th Largest Position

Chemistry Wealth Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,481 shares of the social networking company’s stock after purchasing an additional 438 shares during the period. Meta Platforms makes up 2.8% of Chemistry Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Chemistry Wealth Management LLC’s holdings in Meta Platforms were worth $11,992,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in META. Fiera Capital Corp lifted its holdings in Meta Platforms by 35.1% during the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock valued at $13,751,000 after buying an additional 7,089 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in Meta Platforms by 0.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 27,122 shares of the social networking company’s stock valued at $13,675,000 after buying an additional 207 shares in the last quarter. Andar Capital Management HK Ltd bought a new stake in Meta Platforms during the 2nd quarter valued at about $5,446,000. RPg Family Wealth Advisory LLC lifted its holdings in Meta Platforms by 1.2% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 16,519 shares of the social networking company’s stock valued at $8,329,000 after buying an additional 199 shares in the last quarter. Finally, Meridian Wealth Partners LLC lifted its holdings in Meta Platforms by 6.7% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,882 shares of the social networking company’s stock valued at $1,453,000 after buying an additional 182 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on META shares. Piper Sandler boosted their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the transaction, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. This trade represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the completion of the transaction, the insider now directly owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. The trade was a 2.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 496,174 shares of company stock valued at $301,408,499. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.2 %

Shares of 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 has a 50-day moving average price of $596.78 and a 200 day moving average price of $556.71. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

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

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.