Modern Wealth Management LLC Has $10.98 Million Stake in Meta Platforms, Inc. $META

Modern Wealth Management LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 33.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,946 shares of the social networking company’s stock after acquiring an additional 3,775 shares during the quarter. Modern Wealth Management LLC’s holdings in Meta Platforms were worth $10,976,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of META. Trust Co of the South boosted its position in shares of Meta Platforms by 0.8% during the 3rd quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after purchasing an additional 14 shares in the last quarter. Sentinel Pension Advisors LLC increased its holdings in Meta Platforms by 1.6% in the third quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock worth $672,000 after purchasing an additional 14 shares in the last quarter. Alpine Bank Wealth Management increased its holdings in Meta Platforms by 0.3% in the third quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock worth $3,159,000 after purchasing an additional 14 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in Meta Platforms by 3.2% in the third quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock valued at $334,000 after buying an additional 14 shares during the period. Finally, Vista Capital Partners Inc. lifted its stake in Meta Platforms by 1.3% in the second quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock valued at $794,000 after buying an additional 14 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $654.86 on Thursday. The company has a market cap of $1.66 trillion, a P/E ratio of 27.87, a PEG ratio of 1.01 and a beta of 1.30. The company has a fifty day simple moving average of $654.42 and a 200 day simple moving average of $679.16. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping the consensus estimate of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The firm had revenue of $59.89 billion for the quarter, compared to the consensus estimate of $58.33 billion. During the same quarter in the prior year, the company posted $8.02 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, March 16th. Meta Platforms’s dividend payout ratio is currently 8.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on META shares. DA Davidson raised their price objective on shares of Meta Platforms from $825.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Rothschild & Co Redburn set a $900.00 target price on shares of Meta Platforms in a research report on Monday, January 26th. Needham & Company LLC reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, January 29th. Robert W. Baird lifted their price target on shares of Meta Platforms from $815.00 to $830.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Finally, Canaccord Genuity Group upped their price objective on shares of Meta Platforms from $900.00 to $930.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $844.44.

Read Our Latest Stock Analysis on Meta Platforms

Insider Activity at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,089 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total value of $5,106,100.36. Following the completion of the sale, the chief technology officer directly owned 2,841 shares of the company’s stock, valued at $1,793,352.84. This represents a 74.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 56,571 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $644.70, for a total value of $36,471,323.70. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 161,446 shares of company stock valued at $103,451,688. 13.61% of the stock is owned by corporate insiders.

Trending Headlines about Meta Platforms

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Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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