Syntegra Private Wealth Group LLC Invests $269,000 in Meta Platforms, Inc. (NASDAQ:META)

Syntegra Private Wealth Group LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 761 shares of the social networking company’s stock, valued at approximately $269,000.

Several other hedge funds have also recently modified their holdings of the business. Stone House Investment Management LLC increased its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. MBM Wealth Consultants LLC acquired a new position in Meta Platforms during the 4th quarter valued at approximately $26,000. Stephens Investment Management Group LLC acquired a new position in Meta Platforms during the 2nd quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC increased its stake in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Finally, PayPay Securities Corp increased its stake in Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Tigress Financial increased their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. Raymond James increased their price objective on shares of Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 2nd. Citigroup increased their price objective on shares of Meta Platforms from $440.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wedbush increased their price objective on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Meta Platforms from $400.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One investment 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 company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $496.35.

Meta Platforms Stock Down 1.7 %

Shares of NASDAQ:META traded down $8.28 during trading hours on Friday, reaching $485.58. The stock had a trading volume of 15,212,764 shares, compared to its average volume of 14,086,339. Meta Platforms, Inc. has a 1 year low of $202.54 and a 1 year high of $523.57. The firm’s 50 day moving average is $467.03 and its 200-day moving average is $376.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The stock has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 1.27 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors 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 0.41%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 13.42%.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $351.55, for a total transaction of $198,977.30. Following the transaction, the insider now owns 36,984 shares of the company’s stock, valued at approximately $13,001,725.20. The disclosure for this sale can be found here. Insiders sold a total of 1,504,435 shares of company stock worth $703,629,367 in the last 90 days. 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.