MGO Private Wealth LLC Makes New $213,000 Investment in Meta Platforms, Inc. (NASDAQ:META)

MGO Private Wealth LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 601 shares of the social networking company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Meridian Wealth Partners LLC increased its stake in shares of Meta Platforms by 3.0% in the 4th quarter. Meridian Wealth Partners LLC now owns 3,062 shares of the social networking company’s stock valued at $1,084,000 after purchasing an additional 89 shares during the last quarter. Magnus Financial Group LLC increased its stake in shares of Meta Platforms by 7.2% in the 4th quarter. Magnus Financial Group LLC now owns 6,687 shares of the social networking company’s stock valued at $2,367,000 after purchasing an additional 450 shares during the last quarter. Convergence Investment Partners LLC grew its position in Meta Platforms by 9.9% during the 4th quarter. Convergence Investment Partners LLC now owns 7,140 shares of the social networking company’s stock worth $2,527,000 after acquiring an additional 645 shares during the last quarter. Little House Capital LLC grew its position in Meta Platforms by 28.6% during the 4th quarter. Little House Capital LLC now owns 8,252 shares of the social networking company’s stock worth $2,921,000 after acquiring an additional 1,835 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its position in Meta Platforms by 6.0% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 3,279 shares of the social networking company’s stock worth $1,161,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on META. Bank of America boosted their price objective on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday. Rosenblatt Securities boosted their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer cut their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Evercore ISI lifted their target price on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total value of $228,664.00. Following the transaction, the insider now owns 34,720 shares in the company, valued at $14,026,880. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total transaction of $228,664.00. Following the sale, the insider now owns 34,720 shares in the company, valued at $14,026,880. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,349,148 shares of company stock worth $649,552,559. Insiders own 13.75% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock traded up $1.91 during trading on Friday, hitting $443.29. The company’s stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The company has a market cap of $1.13 trillion, a PE ratio of 25.46, a P/E/G ratio of 1.13 and a beta of 1.20. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $494.48 and a 200-day moving average of $404.85. Meta Platforms, Inc. has a 52 week low of $229.85 and a 52 week high of $531.49.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

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

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.