GC Wealth Management RIA LLC Buys 2,072 Shares of Meta Platforms, Inc. (NASDAQ:META)

GC Wealth Management RIA LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 30.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,917 shares of the social networking company’s stock after buying an additional 2,072 shares during the period. Meta Platforms comprises about 0.9% of GC Wealth Management RIA LLC’s investment portfolio, making the stock its 24th biggest position. GC Wealth Management RIA LLC’s holdings in Meta Platforms were worth $5,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Proficio Capital Partners LLC grew its stake in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the period. Raymond James Financial Inc. bought a new stake in Meta Platforms during the fourth quarter valued at $2,243,603,000. Strategic Financial Concepts LLC raised its holdings in shares of Meta Platforms by 87,269.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after acquiring an additional 1,066,437 shares in the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 2.9 %

Meta Platforms stock opened at $607.60 on Friday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $658.01 and its two-hundred day simple moving average is $603.19. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s payout ratio is presently 8.78%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $626.66, for a total transaction of $567,127.30. Following the transaction, the insider now owns 34,725 shares in the company, valued at approximately $21,760,768.50. This represents a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $629.56, for a total transaction of $260,008.28. Following the completion of the sale, the chief operating officer now owns 18,340 shares of the company’s stock, valued at $11,546,130.40. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 690,689 shares of company stock valued at $451,269,409. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on META shares. Susquehanna increased their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their price target on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Oppenheimer boosted their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Piper Sandler increased their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $719.26.

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.