Avion Wealth Has $700,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Avion Wealth grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,197 shares of the social networking company’s stock after purchasing an additional 194 shares during the quarter. Avion Wealth’s holdings in Meta Platforms were worth $700,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in META. Jmac Enterprises LLC grew its holdings in shares of Meta Platforms by 3.7% during the fourth quarter. Jmac Enterprises LLC now owns 1,492 shares of the social networking company’s stock valued at $874,000 after buying an additional 53 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Meta Platforms by 9.0% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 14,718 shares of the social networking company’s stock valued at $8,618,000 after purchasing an additional 1,210 shares during the last quarter. Kentucky Trust Co bought a new stake in Meta Platforms during the 4th quarter worth approximately $542,000. Viewpoint Capital Management LLC raised its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Viewpoint Capital Management LLC now owns 2,175 shares of the social networking company’s stock worth $1,273,000 after purchasing an additional 17 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its holdings in shares of Meta Platforms by 7.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 38,328 shares of the social networking company’s stock valued at $22,441,000 after purchasing an additional 2,602 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on META. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective on the stock in a report on Thursday, January 30th. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Finally, KeyCorp raised their price objective on Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $717.90.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $734.49, for a total transaction of $14,445,949.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the completion of the sale, the chief operating officer now owns 19,579 shares in the company, valued at approximately $11,018,473.83. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 770,701 shares of company stock valued at $495,357,621. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of META opened at $715.91 on Wednesday. The business’s fifty day simple moving average is $643.13 and its two-hundred day simple moving average is $587.57. The company has a market cap of $1.81 trillion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business earned $5.33 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given 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 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s payout ratio is presently 8.36%.

Meta Platforms 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.