Tanager Wealth Management LLP Buys 4,214 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tanager Wealth Management LLP grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 45.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,497 shares of the social networking company’s stock after acquiring an additional 4,214 shares during the quarter. Meta Platforms accounts for approximately 0.9% of Tanager Wealth Management LLP’s portfolio, making the stock its 25th largest holding. Tanager Wealth Management LLP’s holdings in Meta Platforms were worth $4,777,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC boosted its position in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. MBM Wealth Consultants LLC bought a new position in Meta Platforms during the fourth quarter valued at about $26,000. Stephens Investment Management Group LLC purchased a new stake in Meta Platforms during the second quarter worth about $30,000. Beaird Harris Wealth Management LLC increased its holdings in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Finally, PayPay Securities Corp raised its position in Meta Platforms by 65.2% in the third 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 period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 4.1 %

META stock traded down $20.73 during trading on Friday, reaching $481.07. The company had a trading volume of 25,192,554 shares, compared to its average volume of 17,158,529. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. Meta Platforms, Inc. has a 52 week low of $207.13 and a 52 week high of $531.49. The business has a 50 day moving average of $494.29 and a 200 day moving average of $397.43. The company has a market cap of $1.23 trillion, a P/E ratio of 32.93, a PEG ratio of 1.26 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is 13.42%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on META. Truist Financial raised their price target on shares of Meta Platforms from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Citigroup raised their price objective on shares of Meta Platforms from $525.00 to $590.00 and gave the company a “buy” rating in a research report on Monday. Barclays upped their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group raised their price target on Meta Platforms from $500.00 to $555.00 and gave the company a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $519.53.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the sale, the insider now directly owns 37,813 shares of the company’s stock, valued at approximately $18,853,183.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total value of $291,675.15. Following the transaction, the insider now directly owns 37,813 shares of the company’s stock, valued at approximately $18,853,183.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $384.54, for a total value of $7,568,131.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,421,182 shares of company stock valued at $677,574,550. 13.75% of the stock is currently 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.