Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,425 shares of the social networking company’s stock after purchasing an additional 1,307 shares during the period. Meta Platforms comprises approximately 1.1% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Perfromance Wealth Partners LLC’s holdings in Meta Platforms were worth $34,794,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in META. Fiera Capital Corp boosted its stake in shares of Meta Platforms by 35.1% during the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after acquiring an additional 7,089 shares in the last quarter. DSM Capital Partners LLC raised its holdings in Meta Platforms by 8.2% in the 2nd quarter. DSM Capital Partners LLC now owns 716,701 shares of the social networking company’s stock worth $361,375,000 after purchasing an additional 54,084 shares during the period. Daymark Wealth Partners LLC boosted its position in Meta Platforms by 12.9% during the second quarter. Daymark Wealth Partners LLC now owns 11,750 shares of the social networking company’s stock worth $5,925,000 after purchasing an additional 1,347 shares in the last quarter. MBB Public Markets I LLC grew its holdings in Meta Platforms by 589.3% in the second quarter. MBB Public Markets I LLC now owns 199,101 shares of the social networking company’s stock valued at $100,391,000 after purchasing an additional 170,218 shares during the period. Finally, Maverick Capital Ltd. increased its position in shares of Meta Platforms by 93.3% in the second quarter. Maverick Capital Ltd. now owns 295,212 shares of the social networking company’s stock valued at $148,852,000 after buying an additional 142,523 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $647.49 on Friday. The stock’s 50-day moving average is $601.93 and its two-hundred day moving average is $560.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $385.66 and a 1-year high of $652.00.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $626.80, for a total transaction of $22,515,282.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 568,016 shares of company stock valued at $346,031,180 in the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on META. Raymond James lifted their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Roth Mkm lifted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two investment 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 given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $654.20.

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.