Meta Platforms, Inc. (NASDAQ:META) Position Boosted by FFT Wealth Management LLC

FFT Wealth Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,425 shares of the social networking company’s stock after purchasing an additional 381 shares during the period. Meta Platforms comprises about 0.8% of FFT Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. FFT Wealth Management LLC’s holdings in Meta Platforms were worth $10,203,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the third quarter worth about $36,000. Avondale Wealth Management bought a new position in Meta Platforms in the fourth quarter worth about $41,000. Cordant Inc. bought a new position in Meta Platforms in the fourth quarter worth about $59,000. Finally, Reston Wealth Management LLC bought a new position in Meta Platforms in the third quarter worth about $61,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent research reports. Arete Research raised shares of Meta Platforms to a “hold” rating in a report on Friday, January 24th. Wolfe Research raised their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Oppenheimer raised their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $719.26.

Meta Platforms Trading Down 2.0 %

Shares of NASDAQ:META opened at $655.05 on Tuesday. The firm has a fifty day moving average of $654.28 and a two-hundred day moving average of $597.91. The firm has a market capitalization of $1.66 trillion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the company posted $5.33 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.32%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares in the company, valued at $209,199,589.06. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 796,712 shares of company stock worth $517,503,564. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.