Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,279 shares of the social networking company’s stock after acquiring an additional 187 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Meta Platforms were worth $1,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its position in shares of Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares during the last quarter. Bank of Stockton lifted its position in shares of Meta Platforms by 9.2% during the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after buying an additional 400 shares during the last quarter. Signify Wealth purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $228,000. Illinois Municipal Retirement Fund lifted its position in shares of Meta Platforms by 1.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after buying an additional 4,025 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its position in shares of Meta Platforms by 1.5% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several recent analyst reports. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. The Goldman Sachs Group reduced their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday. Raymond James reduced their price target on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $509.18.

Meta Platforms Trading Up 0.4 %

Shares of META stock traded up $1.91 during trading hours on Friday, hitting $443.29. 32,645,619 shares of the company were exchanged, compared to its average volume of 18,233,678. The firm has a market cap of $1.13 trillion, a PE ratio of 25.46, a PEG ratio of 1.13 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The company has a quick ratio of 2.67, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average of $494.48 and a 200 day moving average of $404.85.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Analysts expect that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total transaction of $7,751,361.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock worth $649,552,559 in the last three months. Company insiders own 13.75% of the company’s stock.

Meta Platforms Company 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.