Onyx Bridge Wealth Group LLC Trims Stake in Meta Platforms, Inc. (NASDAQ:META)

Onyx Bridge Wealth Group LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,609 shares of the social networking company’s stock after selling 813 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Meta Platforms were worth $1,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new stake in Meta Platforms during the 4th quarter valued at $273,000. Evolution Wealth Advisors LLC boosted its position in Meta Platforms by 5.1% during the 4th quarter. Evolution Wealth Advisors LLC now owns 4,168 shares of the social networking company’s stock valued at $1,475,000 after acquiring an additional 204 shares in the last quarter. Naples Money Management LLC bought a new stake in Meta Platforms during the 4th quarter valued at $3,269,000. Tanager Wealth Management LLP boosted its position in Meta Platforms by 45.4% during the 4th quarter. Tanager Wealth Management LLP now owns 13,497 shares of the social networking company’s stock valued at $4,777,000 after acquiring an additional 4,214 shares in the last quarter. Finally, American Financial Advisors LLC boosted its position in shares of Meta Platforms by 1.2% in the 4th quarter. American Financial Advisors LLC now owns 3,258 shares of the social networking company’s stock worth $1,153,000 after purchasing an additional 39 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $384.54, for a total value of $7,568,131.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $384.54, for a total value of $7,568,131.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,421,182 shares of company stock worth $677,574,550 in the last ninety days. Insiders own 13.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on META shares. Wedbush raised their price objective on Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Tigress Financial raised their price objective on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 9th. The Goldman Sachs Group raised their price objective on Meta Platforms from $500.00 to $555.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Bank of America raised their price objective on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Canaccord Genuity Group raised their price objective on Meta Platforms from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $519.53.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $20.73 on Friday, hitting $481.07. 25,215,364 shares of the company were exchanged, compared to its average volume of 11,967,675. The stock has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. The company has a 50-day moving average price of $494.55 and a 200 day moving average price of $398.64. Meta Platforms, Inc. has a 1-year low of $207.13 and a 1-year high of $531.49. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for 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 revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 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.