National Wealth Management Group LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

National Wealth Management Group LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 59.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,287 shares of the social networking company’s stock after acquiring an additional 1,981 shares during the quarter. Meta Platforms comprises approximately 1.8% of National Wealth Management Group LLC’s holdings, making the stock its 15th biggest position. National Wealth Management Group LLC’s holdings in Meta Platforms were worth $1,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Larson Financial Group LLC grew its holdings in Meta Platforms by 2.8% during the 4th quarter. Larson Financial Group LLC now owns 5,633 shares of the social networking company’s stock valued at $1,994,000 after buying an additional 154 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Meta Platforms by 1.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock valued at $79,212,000 after buying an additional 4,025 shares in the last quarter. Aspire Private Capital LLC grew its holdings in Meta Platforms by 39.9% during the 4th quarter. Aspire Private Capital LLC now owns 3,318 shares of the social networking company’s stock valued at $1,174,000 after buying an additional 947 shares in the last quarter. California Public Employees Retirement System grew its holdings in Meta Platforms by 6.8% during the 4th quarter. California Public Employees Retirement System now owns 4,873,847 shares of the social networking company’s stock valued at $1,725,147,000 after buying an additional 309,497 shares in the last quarter. Finally, Foster & Motley Inc. grew its holdings in Meta Platforms by 2.8% during the 4th quarter. Foster & Motley Inc. now owns 20,990 shares of the social networking company’s stock valued at $7,430,000 after buying an additional 569 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Javier Olivan sold 4,500 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $395.00, for a total transaction of $1,777,500.00. Following the sale, the chief operating officer now owns 75,435 shares in the company, valued at $29,796,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold 1,392,501 shares of company stock worth $666,506,318 over the last quarter. Insiders own 14.03% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Bank of America raised their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Truist Financial raised their target price on shares of Meta Platforms from $525.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Barclays raised their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Evercore ISI raised their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Citigroup raised their target price on shares of Meta Platforms from $525.00 to $590.00 and gave the company a “buy” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $520.28.

Meta Platforms Stock Up 0.1 %

Shares of META stock traded up $0.66 on Monday, hitting $481.73. The stock had a trading volume of 17,232,840 shares, compared to its average volume of 17,160,061. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $494.81 and a 200 day moving average price of $401.23. The company has a market cap of $1.23 trillion, a PE ratio of 32.33, a P/E/G ratio of 1.22 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $207.13 and a one year high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.42%. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

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.