Adero Partners LLC Purchases 2,890 Shares of Meta Platforms, Inc. (NASDAQ:META)

Adero Partners LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,407 shares of the social networking company’s stock after purchasing an additional 2,890 shares during the quarter. Meta Platforms makes up approximately 0.8% of Adero Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Adero Partners LLC’s holdings in Meta Platforms were worth $11,949,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stephens Consulting LLC boosted its holdings in Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares during the last quarter. Lindenwold Advisors INC boosted its holdings in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares during the last quarter. Insight Wealth Strategies LLC boosted its holdings in Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after purchasing an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in Meta Platforms by 0.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after purchasing an additional 17 shares during the last quarter. Finally, Alliance Wealth Advisors LLC raised its stake in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. Oppenheimer increased their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Monness Crespi & Hardt increased their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets increased their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Wolfe Research increased their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, DA Davidson increased their target price on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $717.90.

Meta Platforms Stock Up 0.3 %

Shares of META stock opened at $719.80 on Wednesday. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $725.01. The stock has a market cap of $1.82 trillion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The business’s fifty day moving average is $631.85 and its 200-day moving average is $578.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last issued its earnings results 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the business posted $5.33 EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 8.36%.

Insider Buying and Selling

In related news, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. The trade was a 15.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. The trade was a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 756,735 shares of company stock worth $475,285,232 in the last three months. 13.71% of the stock is currently 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.