Prevail Innovative Wealth Advisors LLC Acquires Shares of 6,600 Meta Platforms, Inc. (NASDAQ:META)

Prevail Innovative Wealth Advisors LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,600 shares of the social networking company’s stock, valued at approximately $3,864,000. Meta Platforms makes up approximately 1.1% of Prevail Innovative Wealth Advisors LLC’s portfolio, making the stock its 25th biggest position.

A number of other institutional investors have also recently modified their holdings of the business. Howard Capital Management Group LLC lifted its stake in shares of Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after buying an additional 251 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Meta Platforms by 6.5% in the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock valued at $1,928,185,000 after buying an additional 204,412 shares in the last quarter. United Bank raised its holdings in shares of Meta Platforms by 22.2% during the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock worth $3,188,000 after acquiring an additional 1,011 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Meta Platforms in the third quarter valued at about $625,000. Finally, Providence Wealth Advisors LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $262,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Scotiabank increased their price target on Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Barclays boosted their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Raymond James restated a “strong-buy” rating and set a $800.00 price target (up from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $718.31.

Meta Platforms Trading Down 4.3 %

Shares of META stock opened at $576.74 on Friday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.42 and a beta of 1.23. The firm has a 50-day moving average price of $655.23 and a 200 day moving average price of $609.21. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

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

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the sale, the chief operating officer now owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $603.98, for a total transaction of $21,695,565.58. The disclosure for this sale can be found here. Insiders have sold 584,823 shares of company stock worth $386,274,777 in the last quarter. 13.71% of the stock is owned by corporate insiders.

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.