Lifestyle Asset Management Inc. Acquires 59 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lifestyle Asset Management Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,020 shares of the social networking company’s stock after buying an additional 59 shares during the quarter. Meta Platforms comprises 1.0% of Lifestyle Asset Management Inc.’s portfolio, making the stock its 20th largest holding. Lifestyle Asset Management Inc.’s holdings in Meta Platforms were worth $1,768,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Yeomans Consulting Group Inc. lifted its stake in shares of Meta Platforms by 16.2% in the 4th quarter. Yeomans Consulting Group Inc. now owns 625 shares of the social networking company’s stock valued at $366,000 after purchasing an additional 87 shares during the last quarter. Spinnaker Investment Group LLC raised its holdings in Meta Platforms by 10.9% during the 4th quarter. Spinnaker Investment Group LLC now owns 712 shares of the social networking company’s stock valued at $417,000 after buying an additional 70 shares during the period. Key Client Fiduciary Advisors LLC lifted its position in Meta Platforms by 7.1% in the fourth quarter. Key Client Fiduciary Advisors LLC now owns 2,801 shares of the social networking company’s stock worth $1,640,000 after buying an additional 185 shares during the last quarter. Apeiron RIA LLC purchased a new position in Meta Platforms during the fourth quarter worth $294,000. Finally, Secure Asset Management LLC increased its position in Meta Platforms by 6.1% during the fourth quarter. Secure Asset Management LLC now owns 19,491 shares of the social networking company’s stock valued at $11,412,000 after acquiring an additional 1,125 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets lifted their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Cantor Fitzgerald cut their target price on Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Susquehanna increased their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Wolfe Research boosted their price objective on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group increased their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $654.20.

Insider Activity

In related news, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 568,016 shares of company stock valued at $346,031,180. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $647.49 on Monday. The company has a 50 day moving average price of $601.93 and a 200 day moving average price of $560.51. The firm has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $385.66 and a 52 week high of $652.00.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.31%. Meta Platforms’s payout ratio is presently 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.