Meta Platforms, Inc. (NASDAQ:META) Position Raised by Concentrum Wealth Management

Concentrum Wealth Management lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,447 shares of the social networking company’s stock after purchasing an additional 24 shares during the quarter. Meta Platforms comprises 25.4% of Concentrum Wealth Management’s portfolio, making the stock its biggest holding. Concentrum Wealth Management’s holdings in Meta Platforms were worth $72,280,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of META. Vanguard Group Inc. raised its position in Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after buying an additional 1,020,519 shares during the period. Norges Bank bought a new stake in shares of Meta Platforms during the 4th quarter worth approximately $19,949,512,000. Charles Schwab Investment Management Inc. boosted its holdings in Meta Platforms by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after acquiring an additional 424,201 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Meta Platforms by 27.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after purchasing an additional 1,892,509 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24. Following the completion of the transaction, the chief operating officer now owns 6,230 shares of the company’s stock, valued at $3,507,676.90. This represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total value of $525,577.86. Following the completion of the transaction, the insider now owns 30,261 shares in the company, valued at approximately $17,268,742.26. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,725 shares of company stock worth $356,391,449 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 5.1 %

Meta Platforms stock opened at $504.73 on Monday. The business’s 50-day moving average price is $648.15 and its 200 day moving average price is $610.77. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the business posted $5.33 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on META. Bank of America upped their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Argus set a $775.00 target price on shares of Meta Platforms in a research report on Tuesday, February 4th. Arete Research upgraded Meta Platforms to a “hold” rating in a report on Friday, January 24th. Wolfe Research increased their price objective on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Citigroup upped their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $718.55.

About Meta Platforms

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.