Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by BKM Wealth Management LLC

BKM Wealth Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 546 shares of the social networking company’s stock after purchasing an additional 35 shares during the quarter. BKM Wealth Management LLC’s holdings in Meta Platforms were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. JDM Financial Group LLC bought a new stake in Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter valued at $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the fourth quarter valued at about $41,000. Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter worth about $59,000. Finally, Reston Wealth Management LLC bought a new position in Meta Platforms in the 3rd quarter valued at about $61,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $668.13 on Tuesday. The business’s 50-day simple moving average is $647.97 and its 200-day simple moving average is $593.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The firm has a market cap of $1.69 trillion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.42 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the firm earned $5.33 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. Meta Platforms’s payout ratio is currently 8.78%.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. This represents a 14.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 3,523 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $701.10, for a total value of $2,469,975.30. The disclosure for this sale can be found here. Insiders sold 812,422 shares of company stock worth $525,534,818 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Mizuho upped their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Piper Sandler lifted their price target on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Susquehanna raised their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $719.26.

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.