Meta Platforms, Inc. (NASDAQ:META) Position Increased by Independent Wealth Network Inc.

Independent Wealth Network Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,056 shares of the social networking company’s stock after purchasing an additional 173 shares during the quarter. Independent Wealth Network Inc.’s holdings in Meta Platforms were worth $1,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC grew its position in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. MBM Wealth Consultants LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth approximately $26,000. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms in the second quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Finally, PayPay Securities Corp grew its holdings in shares of Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 62.87% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $1.82 during mid-day trading on Friday, reaching $509.58. 8,117,199 shares of the company’s stock were exchanged, compared to its average volume of 18,378,908. The firm has a 50-day moving average price of $454.49 and a two-hundred day moving average price of $369.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The firm has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $197.90 and a 52 week high of $523.57.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. Meta Platforms’s revenue for the quarter was up 24.7% on a year-over-year basis. Analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 13.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on META. BMO Capital Markets upped their target price on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Susquehanna raised their target price on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Wolfe Research boosted their target price on shares of Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Piper Sandler raised their price objective on Meta Platforms from $415.00 to $525.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Citigroup upped their price objective on Meta Platforms from $440.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $496.35.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 47,690 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $357.43, for a total value of $17,045,836.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 47,690 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $357.43, for a total value of $17,045,836.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $351.55, for a total value of $198,977.30. Following the transaction, the insider now directly owns 36,984 shares in the company, valued at $13,001,725.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,365,299 shares of company stock valued at $626,512,270. Corporate insiders own 13.75% of the company’s stock.

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.