Legacy Financial Strategies LLC Invests $457,000 in Meta Platforms, Inc. (NASDAQ:META)

Legacy Financial Strategies LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,290 shares of the social networking company’s stock, valued at approximately $457,000.

A number of other hedge funds have also modified their holdings of META. WoodTrust Financial Corp grew its stake in shares of Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after buying an additional 27 shares during the period. Tennessee Valley Asset Management Partners grew its stake in shares of Meta Platforms by 0.6% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after buying an additional 27 shares during the period. Peterson Wealth Advisors LLC grew its stake in shares of Meta Platforms by 1.9% during the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after buying an additional 28 shares during the period. Edge Wealth Management LLC grew its stake in shares of Meta Platforms by 4.0% during the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after buying an additional 28 shares during the period. Finally, Yarger Wealth Strategies LLC grew its stake in shares of Meta Platforms by 4.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock valued at $260,000 after buying an additional 28 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

META traded down $20.73 on Friday, hitting $481.07. 25,215,364 shares of the company’s stock were exchanged, compared to its average volume of 11,967,675. The firm has a market cap of $1.23 trillion, a PE ratio of 32.29, a P/E/G ratio of 1.22 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49. The stock has a fifty day moving average of $494.55 and a two-hundred day moving average of $399.98. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on META. Bank of America upped their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup upped their price target on shares of Meta Platforms from $525.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Jefferies Financial Group upped their price target on shares of Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group upped their price target on shares of Meta Platforms from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday. One research 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 company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $519.53.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $388.90, for a total transaction of $3,500,100.00. Following the completion of the sale, the chief operating officer now owns 79,935 shares in the company, valued at approximately $31,086,721.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,421,182 shares of company stock worth $677,574,550. 13.75% of the stock is owned by company 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.