Meta Platforms, Inc. (NASDAQ:META) Holdings Increased by SVB Wealth LLC

SVB Wealth LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 33.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,823 shares of the social networking company’s stock after buying an additional 17,295 shares during the quarter. SVB Wealth LLC’s holdings in Meta Platforms were worth $24,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fairfield Bush & CO. purchased a new position in shares of Meta Platforms in the first quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Meta Platforms by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after acquiring an additional 249,926 shares in the last quarter. Ergoteles LLC increased its position in shares of Meta Platforms by 284.0% in the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after acquiring an additional 2,482 shares in the last quarter. First Western Trust Bank purchased a new position in shares of Meta Platforms in the first quarter worth approximately $813,000. Finally, Oxford Financial Group Ltd. increased its position in shares of Meta Platforms by 26.9% in the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock worth $420,000 after acquiring an additional 400 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Mizuho boosted their target price on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Bank of America boosted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays boosted their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $509.28.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Insiders have sold 1,459,469 shares of company stock worth $691,726,161 in the last ninety days. Company insiders own 14.03% of the company’s stock.

Meta Platforms Trading Up 0.2 %

Shares of NASDAQ:META traded up $1.06 during mid-day trading on Tuesday, reaching $501.29. The stock had a trading volume of 3,042,017 shares, compared to its average volume of 17,052,457. The firm has a market cap of $1.28 trillion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.20. The firm has a 50 day simple moving average of $492.26 and a two-hundred day simple moving average of $394.61. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the company posted $3.00 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 20.06 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is 13.42%.

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.