Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Horizon Wealth Management LLC

Horizon Wealth Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,740 shares of the social networking company’s stock after purchasing an additional 47 shares during the quarter. Horizon Wealth Management LLC’s holdings in Meta Platforms were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in META. International Assets Investment Management LLC raised its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC raised its position in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $595,152,000. World Investment Advisors LLC raised its position in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after purchasing an additional 890,434 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on META shares. Stifel Nicolaus increased their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Bank of America increased their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Truist Financial increased their price objective on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, Mizuho increased their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $650.05.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the sale, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 423,427 shares of company stock valued at $256,996,450 over the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Down 1.2 %

Meta Platforms stock opened at $608.33 on Tuesday. 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 capitalization of $1.54 trillion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a one year low of $358.61 and a one year high of $638.40. The company’s fifty day moving average price is $594.58 and its two-hundred day moving average price is $554.18.

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

Meta Platforms Dividend Announcement

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