2,758 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Genesis Private Wealth LLC

Genesis Private Wealth LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,758 shares of the social networking company’s stock, valued at approximately $1,615,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the 4th quarter worth approximately $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the 3rd quarter valued at $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $647.49 on Friday. The stock has a 50 day moving average of $601.93 and a 200 day moving average of $560.12. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $385.66 and a 12 month high of $652.00. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 18,644 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the completion of the transaction, the chief financial officer now owns 46,769 shares in the company, valued at $25,888,979.95. This trade represents a 28.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Insiders sold 568,016 shares of company stock valued at $346,031,180 in the last three months. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Jefferies Financial Group upped their target price on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. KeyCorp lifted their target price on Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $654.20.

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.