Financial Strategies Group Inc. Takes $228,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Financial Strategies Group Inc. acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 583 shares of the social networking company’s stock, valued at approximately $228,000.

Other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC boosted its position in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the last quarter. Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter worth about $39,000. Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its position in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in Meta Platforms in the second quarter worth about $30,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.0 %

Shares of META opened at $499.95 on Wednesday. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $207.13 and a 1 year high of $531.49. The business’s 50 day simple moving average is $493.16 and its 200-day simple moving average is $396.01. 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 (NASDAQ:META) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. Meta Platforms’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is presently 13.42%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,956 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total value of $7,513,615.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the sale, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,439,788 shares of company stock worth $684,542,792. Company insiders own 14.03% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of several research reports. UBS Group raised their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Guggenheim raised their target price on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Susquehanna raised their target price on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research report on Friday, February 2nd. Finally, Oppenheimer lifted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have assigned 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 price target of $509.28.

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.