Retirement Wealth Solutions LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Retirement Wealth Solutions LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 273 shares of the social networking company’s stock, valued at approximately $168,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares during the period. LS Investment Advisors LLC lifted its stake in shares of 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 acquiring an additional 6,155 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Meta Platforms by 0.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after buying an additional 65 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after acquiring an additional 5,594 shares in the last quarter. Finally, M&G PLC increased its holdings 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 valued at $412,606,000 after buying an additional 91,773 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the transaction, the chief operating officer now directly owns 10,707 shares in the company, valued at approximately $6,147,531.12. The trade was a 3.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total transaction of $547,108.70. Following the sale, the insider now owns 31,105 shares in the company, valued at approximately $18,804,216.70. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 496,174 shares of company stock valued at $301,408,499. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research analyst reports. JMP Securities increased their target price on Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a report on Thursday, January 2nd. Wolfe Research raised their target price on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. UBS Group upped their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Mizuho lifted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $612.77 on Monday. Meta Platforms, Inc. has a twelve month low of $370.95 and a twelve month high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm’s 50-day simple moving average is $596.78 and its 200-day simple moving average is $557.04. The firm has a market cap of $1.55 trillion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for 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%. As a group, research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.