Muirfield Wealth Advisors LLC Acquires New Shares in Meta Platforms, Inc. (NASDAQ:META)

Muirfield Wealth Advisors LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,272 shares of the social networking company’s stock, valued at approximately $804,000.

Other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC grew its holdings in Meta Platforms by 625.0% during the 3rd 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. Quest Partners LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Gilfoyle & Co LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $39,000. Finally, Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Royal Bank of Canada decreased their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Wedbush decreased their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Raymond James raised their price objective on Meta Platforms from $525.00 to $550.00 and gave the stock a “strong-buy” rating in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $510.41.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Clegg sold 1,135 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $535,549.75. Following the completion of the transaction, the insider now directly owns 8,753 shares in the company, valued at $4,130,103.05. The disclosure for this sale can be found here. Insiders sold a total of 422,564 shares of company stock valued at $208,591,435 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $506.63 on Tuesday. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 29.10, a P/E/G ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The business’s fifty day moving average is $480.14 and its two-hundred day moving average is $444.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

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.