Abound Wealth Management Acquires 31 Shares of Meta Platforms, Inc. (NASDAQ:META)

Abound Wealth Management grew its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 639 shares of the social networking company’s stock after acquiring an additional 31 shares during the quarter. Abound Wealth Management’s holdings in Meta Platforms were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the period. LS Investment Advisors LLC lifted its position in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the period. Cutter & CO Brokerage Inc. lifted its position in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the period. Janney Montgomery Scott LLC lifted its position in Meta Platforms by 1.4% in the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares during the period. Finally, M&G PLC lifted its position in Meta Platforms by 14.6% in the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after purchasing an additional 91,773 shares during the period. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on META. TD Cowen increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a research note on Monday. Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus increased their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two 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 stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Check Out Our Latest Stock Report on META

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total value of $239,808.45. Following the sale, the chief operating officer now owns 11,120 shares of the company’s stock, valued at approximately $6,456,828. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 12,975 shares of Meta Platforms stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $615.41, for a total value of $7,984,944.75. Following the completion of the sale, the chief executive officer now directly owns 381,290 shares in the company, valued at approximately $234,649,678.90. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 423,427 shares of company stock valued at $256,996,450. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Down 1.2 %

NASDAQ:META opened at $608.33 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $358.61 and a fifty-two week high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market capitalization of $1.54 trillion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The business’s 50-day simple moving average is $594.58 and its 200-day simple moving average is $554.18.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Meta Platforms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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