Atlantic Edge Private Wealth Management LLC Purchases 36 Shares of Meta Platforms, Inc. (NASDAQ:META)

Atlantic Edge Private Wealth Management LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,135 shares of the social networking company’s stock after acquiring an additional 36 shares during the period. Meta Platforms makes up approximately 1.3% of Atlantic Edge Private Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Atlantic Edge Private Wealth Management LLC’s holdings in Meta Platforms were worth $4,178,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wealthcare Capital Partners LLC bought a new stake in Meta Platforms in the 4th quarter valued at about $1,085,000. Sovran Advisors LLC bought a new stake in Meta Platforms in the 4th quarter valued at about $2,990,000. Strengthening Families & Communities LLC boosted its stake in shares of Meta Platforms by 10.6% in the fourth quarter. Strengthening Families & Communities LLC now owns 1,220 shares of the social networking company’s stock valued at $715,000 after buying an additional 117 shares during the period. Compound Global Advisors LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $1,405,000. Finally, Peterson Wealth Services boosted its stake in shares of Meta Platforms by 3.6% in the fourth quarter. Peterson Wealth Services now owns 5,648 shares of the social networking company’s stock valued at $3,307,000 after buying an additional 194 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.1 %

NASDAQ:META opened at $736.67 on Monday. The firm has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The business has a fifty day moving average price of $638.73 and a 200-day moving average price of $584.28. 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 (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 posted $5.33 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.36%.

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Oppenheimer upped their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho upped their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald upped their target price on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Bank of America upped their target price on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” 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 issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $717.90.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 902 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total value of $643,414.64. Following the sale, the insider now directly owns 27,488 shares in the company, valued at approximately $19,607,740.16. The trade was a 3.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the completion of the transaction, the chief operating officer now directly owns 19,579 shares in the company, valued at $11,018,473.83. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 751,033 shares of company stock valued at $480,911,671 over the last quarter. 13.71% of the stock is owned by insiders.

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.