Scissortail Wealth Management LLC Acquires 305 Shares of Meta Platforms, Inc. (NASDAQ:META)

Scissortail Wealth Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 37.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,119 shares of the social networking company’s stock after buying an additional 305 shares during the quarter. Scissortail Wealth Management LLC’s holdings in Meta Platforms were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. WoodTrust Financial Corp lifted its stake in Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after acquiring an additional 27 shares during the period. Tennessee Valley Asset Management Partners lifted its stake in Meta Platforms by 0.6% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after acquiring an additional 27 shares during the period. Peterson Wealth Advisors LLC lifted its stake in Meta Platforms by 1.9% during the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after acquiring an additional 28 shares during the period. Edge Wealth Management LLC lifted its stake in Meta Platforms by 4.0% during the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after acquiring an additional 28 shares during the period. Finally, Yarger Wealth Strategies LLC lifted its stake in Meta Platforms by 4.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock valued at $260,000 after acquiring an additional 28 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on META shares. Wolfe Research increased their price objective on shares of Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Canaccord Genuity Group raised their target price on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial raised their target price on shares of Meta Platforms from $405.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays raised their target price 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $509.28.

Meta Platforms Stock Down 0.5 %

Shares of META traded down $2.33 during midday trading on Wednesday, hitting $497.43. The company had a trading volume of 1,466,730 shares, compared to its average volume of 16,929,031. The company’s 50-day simple moving average is $493.16 and its 200-day simple moving average is $396.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 33.38, a P/E/G ratio of 1.28 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $207.13 and a 1 year high of $531.49.

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

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $381.77, for a total value of $7,513,615.37. The disclosure for this sale can be found here. Insiders have sold a total of 1,439,788 shares of company stock valued at $684,542,792 over the last quarter. Company insiders own 14.03% of the company’s stock.

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.