Wheelhouse Advisory Group LLC Has $223,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Wheelhouse Advisory Group LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 380 shares of the social networking company’s stock after acquiring an additional 18 shares during the period. Wheelhouse Advisory Group LLC’s holdings in Meta Platforms were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fiera Capital Corp grew its stake in Meta Platforms by 35.1% in the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock valued at $13,751,000 after acquiring an additional 7,089 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Meta Platforms during the 2nd quarter valued at about $1,559,000. Sunbelt Securities Inc. grew its position in shares of Meta Platforms by 39.4% in the 2nd quarter. Sunbelt Securities Inc. now owns 13,445 shares of the social networking company’s stock valued at $6,779,000 after purchasing an additional 3,799 shares during the period. Covington Investment Advisors Inc. bought a new stake in Meta Platforms during the 2nd quarter worth approximately $7,115,000. Finally, Invst LLC raised its holdings in Meta Platforms by 18.1% during the 2nd quarter. Invst LLC now owns 6,095 shares of the social networking company’s stock worth $3,076,000 after buying an additional 936 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Scotiabank lowered their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Cantor Fitzgerald decreased their price objective on Meta Platforms from $730.00 to $720.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Barclays boosted their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $654.20.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $644.76, for a total transaction of $23,160,423.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 603,032 shares of company stock valued at $368,666,614 over the last three months. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $659.88 on Tuesday. The stock’s fifty day moving average price is $604.04 and its two-hundred day moving average price is $561.55. The firm has a market cap of $1.67 trillion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a one year low of $387.10 and a one year high of $663.87.

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

Meta Platforms Announces Dividend

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 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 dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is 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.