Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Red Door Wealth Management LLC

Red Door Wealth Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,602 shares of the social networking company’s stock after buying an additional 269 shares during the period. Red Door Wealth Management LLC’s holdings in Meta Platforms were worth $2,109,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at about $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms during the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on META. JMP Securities upped their price objective on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research report on Thursday, January 2nd. Wedbush restated an “outperform” rating and set a $700.00 price objective (up previously from $680.00) on shares of Meta Platforms in a research note on Wednesday, January 22nd. Roth Mkm upped their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Two investment 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’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $654.20.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the completion of the sale, the insider now directly owns 31,482 shares of the company’s stock, valued at approximately $18,262,708.20. This represents a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. In the last 90 days, insiders 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

META opened at $647.49 on Monday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.63 trillion, a PE ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19. The business has a fifty day simple moving average of $601.93 and a 200-day simple moving average of $560.51. Meta Platforms, Inc. has a fifty-two week low of $385.66 and a fifty-two week high of $652.00.

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

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.