Proathlete Wealth Management LLC Acquires 25 Shares of Meta Platforms, Inc. (NASDAQ:META)

Proathlete Wealth Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,903 shares of the social networking company’s stock after purchasing an additional 25 shares during the period. Meta Platforms makes up 0.4% of Proathlete Wealth Management LLC’s portfolio, making the stock its 28th biggest position. Proathlete Wealth Management LLC’s holdings in Meta Platforms were worth $1,117,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management bought a new stake in Meta Platforms during the 4th quarter worth about $41,000. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the third quarter valued at approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $673.57, for a total value of $24,195,307.97. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 661,804 shares of company stock worth $407,745,741 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.3 %

Shares of META opened at $689.18 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $387.10 and a 12 month high of $710.79. The firm’s 50 day moving average is $613.60 and its 200-day moving average is $565.78. The stock has a market capitalization of $1.74 trillion, a PE ratio of 28.81, a P/E/G ratio of 1.35 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same quarter last year, the firm posted $5.33 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 25.44 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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 was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio is 8.36%.

Analyst Ratings Changes

Several research firms have issued reports on META. Guggenheim upped their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Bank of America raised their price objective on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JMP Securities reissued a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $706.76.

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.