Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,753 shares of the social networking company’s stock after purchasing an additional 151 shares during the period. Monterey Private Wealth Inc.’s holdings in Meta Platforms were worth $1,026,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of META. JDM Financial Group LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter worth about $41,000. Halpern Financial Inc. purchased a new position in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth about $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $636.45 on Friday. Meta Platforms, Inc. has a 1 year low of $385.66 and a 1 year high of $638.40. The company has a market cap of $1.61 trillion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a fifty day moving average of $600.06 and a 200-day moving average of $559.30.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the sale, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 568,016 shares of company stock worth $346,031,180 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Susquehanna raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised 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. Truist Financial raised their price target on shares of Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Cantor Fitzgerald cut their price target on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a report on Wednesday. Two equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $654.20.

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.