Core Wealth Partners LLC Purchases 255 Shares of Meta Platforms, Inc. (NASDAQ:META)

Core Wealth Partners LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,874 shares of the social networking company’s stock after acquiring an additional 255 shares during the quarter. Core Wealth Partners LLC’s holdings in Meta Platforms were worth $1,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Seelaus Asset Management LLC grew its stake in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning grew its position in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares in the last quarter. Maiden Cove Capital LLC increased its stake in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares during the last quarter. Stephens Consulting LLC raised its position in Meta Platforms by 5.3% during 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 period. Finally, VeraBank N.A. lifted its stake in shares of Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after purchasing an additional 16 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares in the company, valued at $3,785,747.13. The trade was a 49.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 586,213 shares of company stock valued at $387,084,349. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $610.98 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a market cap of $1.55 trillion, a PE ratio of 25.54, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business has a 50-day simple moving average of $656.12 and a two-hundred day simple moving average of $608.02.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 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 previous year, the firm posted $5.33 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

META has been the topic of several recent research reports. Bank of America increased their price target on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Barclays increased their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Citigroup raised their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Arete Research raised Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Two investment 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

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.