3,287 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Pines Wealth Management LLC

Pines Wealth Management LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,287 shares of the social networking company’s stock, valued at approximately $2,024,000. Meta Platforms makes up 0.9% of Pines Wealth Management LLC’s investment portfolio, making the stock its 26th largest position.

Several other hedge funds have also recently added to or reduced their stakes in META. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after acquiring an additional 6,155 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Meta Platforms by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after purchasing an additional 5,594 shares in the last quarter. Finally, M&G PLC grew its holdings in shares of Meta Platforms by 14.6% during the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock valued at $412,606,000 after purchasing an additional 91,773 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the sale, the chief operating officer now directly owns 11,120 shares of the company’s stock, valued at $6,456,828. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 495,682 shares of company stock valued at $301,101,199 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Pivotal Research boosted their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wedbush increased their target price on Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Morgan Stanley lifted their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, BMO Capital Markets raised their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Meta Platforms Trading Up 3.8 %

Meta Platforms stock opened at $617.12 on Thursday. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The business’s fifty day simple moving average is $595.02 and its two-hundred day simple moving average is $554.81. 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 (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, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend 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.