Angeles Wealth Management LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Angeles Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,339 shares of the social networking company’s stock after purchasing an additional 505 shares during the quarter. Meta Platforms comprises 0.5% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Angeles Wealth Management LLC’s holdings in Meta Platforms were worth $5,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. Seelaus Asset Management LLC lifted its holdings in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after acquiring an additional 15 shares during the period. Stephens Consulting LLC lifted its holdings in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after acquiring an additional 16 shares during the period. Lindenwold Advisors INC lifted its holdings in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after acquiring an additional 17 shares during the period. Insight Wealth Strategies LLC lifted its holdings in shares of Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after acquiring an additional 17 shares during the period. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in shares of Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target on the stock in a research report on Thursday, January 30th. Finally, BMO Capital Markets lifted their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $717.90.

Insider Activity

In related news, CFO Susan J. Li sold 18,644 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.55, for a total value of $10,320,386.20. Following the completion of the sale, the chief financial officer now owns 46,769 shares of the company’s stock, valued at $25,888,979.95. This represents a 28.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 793,070 shares of company stock valued at $504,185,108. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 1.1 %

META stock opened at $736.67 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm has a fifty day moving average price of $638.73 and a two-hundred day moving average price of $583.52. The firm has a market cap of $1.87 trillion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.46 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 earnings per share (EPS) 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 in the prior year, the business earned $5.33 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.36%.

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.