Priebe Wealth Holdings LLC Buys 94 Shares of Meta Platforms, Inc. (NASDAQ:META)

Priebe Wealth Holdings LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 20.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558 shares of the social networking company’s stock after acquiring an additional 94 shares during the period. Priebe Wealth Holdings LLC’s holdings in Meta Platforms were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fiera Capital Corp lifted its position in shares of Meta Platforms by 35.1% in the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after purchasing an additional 7,089 shares during the period. Harmony Asset Management LLC lifted its position in shares of Meta Platforms by 55.9% in the 2nd quarter. Harmony Asset Management LLC now owns 1,624 shares of the social networking company’s stock worth $819,000 after purchasing an additional 582 shares during the period. Nippon Life Global Investors Americas Inc. lifted its position in shares of Meta Platforms by 6.2% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 90,060 shares of the social networking company’s stock worth $45,410,000 after purchasing an additional 5,250 shares during the period. J. Stern & Co. LLP lifted its position in shares of Meta Platforms by 4.2% in the 2nd quarter. J. Stern & Co. LLP now owns 111,306 shares of the social networking company’s stock worth $56,123,000 after purchasing an additional 4,487 shares during the period. Finally, Steel Grove Capital Advisors LLC lifted its position in shares of Meta Platforms by 22.4% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 2,095 shares of the social networking company’s stock worth $1,056,000 after purchasing an additional 384 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on META. JMP Securities increased their target price on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research report on Thursday, January 2nd. Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Guggenheim increased their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Scotiabank decreased their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $652.98.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the transaction, the insider now directly owns 31,482 shares in the company, valued at approximately $18,262,708.20. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $626.80, for a total transaction of $22,515,282.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 567,111 shares of company stock worth $345,453,784. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

META opened at $623.50 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.57 trillion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a 52-week low of $382.08 and a 52-week high of $638.40. The firm’s fifty day simple moving average is $598.87 and its two-hundred day simple moving average is $558.76.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s payout ratio is presently 9.42%.

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.