519 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by JDH Wealth Management LLC

JDH Wealth Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 519 shares of the social networking company’s stock, valued at approximately $304,000.

Several other institutional investors have also added to or reduced their stakes in the stock. JDM Financial Group LLC bought a new position in Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $41,000. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $49,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 1.6 %

META opened at $687.00 on Friday. Meta Platforms, Inc. has a fifty-two week low of $387.10 and a fifty-two week high of $710.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market cap of $1.73 trillion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The firm’s fifty day moving average is $611.00 and its 200 day moving average is $564.44.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 return on equity of 35.60% and a net margin of 35.55%. During the same period last year, the business earned $5.33 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the sale, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total transaction of $24,195,307.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 661,804 shares of company stock valued at $407,745,741. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on META shares. Bank of America increased their price objective on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Monday. UBS Group boosted their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James reaffirmed a “strong-buy” rating and set a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $706.76.

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.