Meta Platforms, Inc. (NASDAQ:META) Stake Raised by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.5% during the 4th quarter, HoldingsChannel reports. The fund owned 41,541 shares of the social networking company’s stock after purchasing an additional 3,588 shares during the period. Meta Platforms accounts for approximately 1.3% of Fifth Third Wealth Advisors LLC’s portfolio, making the stock its 11th biggest holding. Fifth Third Wealth Advisors LLC’s holdings in Meta Platforms were worth $24,323,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter worth about $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $41,000. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms in the third quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on META. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Susquehanna upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Scotiabank decreased their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the 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 transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total value of $22,133,083.36. The disclosure for this sale can be found here. Insiders sold 495,682 shares of company stock valued at $301,101,199 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Up 3.8 %

Shares of META stock opened at $617.12 on Thursday. The company has a market capitalization of $1.56 trillion, a P/E ratio of 29.07, a P/E/G ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a 12-month low of $358.61 and a 12-month high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $595.02 and a 200 day moving average price of $554.81.

Meta Platforms (NASDAQ:META) last posted 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. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

About Meta Platforms

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.