Tower Wealth Partners Inc. Invests $316,000 in Meta Platforms, Inc. (NASDAQ:META)

Tower Wealth Partners Inc. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 539 shares of the social networking company’s stock, valued at approximately $316,000.

Several other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the period. Raymond James Financial Inc. bought a new position in Meta Platforms in the 4th quarter valued at approximately $2,243,603,000. Strategic Financial Concepts LLC boosted its position in Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock worth $625,125,000 after buying an additional 1,066,437 shares during the period. Finally, World Investment Advisors LLC grew its holdings in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares during the last quarter. 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 commented on META shares. Oppenheimer lifted their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Pivotal Research increased their price target on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Susquehanna lifted their price objective on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research note on Thursday, January 30th. Finally, Barclays increased their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

Meta Platforms Stock Up 2.9 %

Shares of NASDAQ META opened at $607.60 on Friday. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a market cap of $1.54 trillion, a P/E ratio of 25.40, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $658.01 and a two-hundred day simple moving average of $602.61.

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, topping analysts’ consensus estimates 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 firm posted $5.33 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total transaction of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares in the company, valued at $19,477,780.40. This represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 690,689 shares of company stock worth $451,269,409 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

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.