Curio Wealth LLC Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Curio Wealth LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, Holdings Channel.com reports. The firm bought 956 shares of the social networking company’s stock, valued at approximately $560,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Jennison Associates LLC boosted its position in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Meta Platforms by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after buying an additional 424,201 shares during the period. Franklin Resources Inc. increased its stake in shares of Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after buying an additional 110,040 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $590.00, for a total value of $243,670.00. Following the completion of the transaction, the chief operating officer now directly owns 17,927 shares of the company’s stock, valued at approximately $10,576,930. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $600.25, for a total transaction of $552,830.25. Following the sale, the insider now directly owns 32,103 shares of the company’s stock, valued at $19,269,825.75. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 622,844 shares of company stock worth $409,212,161 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Morgan Stanley upped their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Bank of America boosted their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets increased their price objective on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Citigroup boosted their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $718.31.

Meta Platforms Price Performance

Shares of META opened at $586.00 on Friday. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm’s 50-day simple moving average is $655.77 and its two-hundred day simple moving average is $604.56. The stock has a market cap of $1.48 trillion, a PE ratio of 24.50, a price-to-earnings-growth 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.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company posted $5.33 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

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.