Meta Platforms, Inc. (NASDAQ:META) is Activest Wealth Management’s 9th Largest Position

Activest Wealth Management boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,943 shares of the social networking company’s stock after acquiring an additional 246 shares during the period. Meta Platforms accounts for approximately 2.4% of Activest Wealth Management’s investment portfolio, making the stock its 9th biggest position. Activest Wealth Management’s holdings in Meta Platforms were worth $8,750,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Seelaus Asset Management LLC boosted its position 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 purchasing an additional 15 shares during the period. Stephens Consulting LLC lifted its holdings in 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 buying an additional 16 shares in the last quarter. Lindenwold Advisors INC lifted its holdings in 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 buying an additional 17 shares in the last quarter. Insight Wealth Strategies LLC lifted its holdings in 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 buying an additional 17 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in 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 buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.1 %

Shares of NASDAQ:META opened at $736.67 on Friday. The company 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. The firm’s 50-day simple moving average is $638.73 and its 200-day simple moving average is $583.52. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 period in the prior year, the business earned $5.33 EPS. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. 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 presently 8.36%.

Analyst Ratings Changes

A number of research firms have issued reports on META. Raymond James reiterated a “strong-buy” rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Cantor Fitzgerald increased their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Robert W. Baird increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank increased their target price on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets raised their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $717.90.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 14,746 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.53, for a total value of $8,162,353.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’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 sale, the chief operating officer now owns 19,579 shares of the company’s stock, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 793,070 shares of company stock worth $504,185,108 over the last 90 days. Company insiders own 13.71% of the company’s stock.

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.