Sagace Wealth Management LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Sagace Wealth Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 400 shares of the social networking company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JDM Financial Group LLC bought a new position in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the fourth quarter worth about $41,000. Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter worth about $46,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at about $49,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 496,174 shares of company stock valued at $301,408,499. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Guggenheim lifted their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Mizuho upped their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, UBS Group upped their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Price Performance

META stock opened at $611.30 on Friday. The company has a market cap of $1.54 trillion, a P/E ratio of 28.79, a PEG ratio of 1.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The firm has a 50-day moving average of $595.92 and a 200 day moving average of $555.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $40.21 billion. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s payout ratio is 9.42%.

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.