Institute for Wealth Management LLC. Has $7.14 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Institute for Wealth Management LLC. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,180 shares of the social networking company’s stock after selling 418 shares during the period. Meta Platforms makes up about 1.2% of Institute for Wealth Management LLC.’s holdings, making the stock its 10th largest holding. Institute for Wealth Management LLC.’s holdings in Meta Platforms were worth $7,143,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in META. Norges Bank bought a new stake in Meta Platforms during the fourth quarter valued at $4,223,148,000. Morgan Stanley bought a new stake in Meta Platforms during the fourth quarter worth about $4,072,543,000. Moneta Group Investment Advisors LLC bought a new stake in Meta Platforms during the fourth quarter worth about $1,796,633,000. Legal & General Group Plc bought a new stake in Meta Platforms during the fourth quarter worth about $1,731,491,000. Finally, FMR LLC lifted its stake in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on META. Barclays lifted their price target on Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Tigress Financial lifted their price target on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. Royal Bank of Canada lifted their price target on Meta Platforms from $400.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Jefferies Financial Group lifted their price objective on Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Susquehanna lifted their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $519.53.

Meta Platforms Price Performance

META traded down $20.68 on Friday, hitting $481.12. 19,233,239 shares of the company’s stock traded hands, compared to its average volume of 17,067,928. The company’s 50 day simple moving average is $494.29 and its 200-day simple moving average is $397.43. The firm has a market cap of $1.23 trillion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 1.26 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $207.13 and a one year high of $531.49. 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 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. The company had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the company earned $3.00 EPS. As a group, research analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current 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 issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 13.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now owns 37,813 shares in the company, valued at approximately $18,853,183.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now owns 37,813 shares in the company, valued at approximately $18,853,183.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $392.36, for a total value of $7,722,037.16. The disclosure for this sale can be found here. Insiders sold 1,421,182 shares of company stock worth $677,574,550 in the last quarter. 13.75% of the stock is owned by corporate 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.