Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 69.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,447 shares of the social networking company’s stock after purchasing an additional 2,240 shares during the quarter. Meta Platforms accounts for about 1.2% of Pursue Wealth Partners LLC’s investment portfolio, making the stock its 24th largest holding. Pursue Wealth Partners LLC’s holdings in Meta Platforms were worth $1,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. PGGM Investments increased its position in Meta Platforms by 36.4% during the 4th quarter. PGGM Investments now owns 144,137 shares of the social networking company’s stock worth $51,019,000 after purchasing an additional 38,485 shares in the last quarter. Transcend Capital Advisors LLC increased its position in Meta Platforms by 0.7% during the 4th quarter. Transcend Capital Advisors LLC now owns 18,909 shares of the social networking company’s stock worth $6,693,000 after purchasing an additional 123 shares in the last quarter. Opinicus Capital Inc. acquired a new stake in Meta Platforms during the 4th quarter worth approximately $886,000. Unique Wealth Strategies LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $3,622,000. Finally, McCarthy Asset Management Inc. boosted its holdings in Meta Platforms by 10.8% in the 4th quarter. McCarthy Asset Management Inc. now owns 1,438 shares of the social networking company’s stock worth $509,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. Stifel Nicolaus upped their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wedbush reduced their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Barclays reduced their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Raymond James reduced their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $509.18.

Meta Platforms Trading Up 0.4 %

Shares of NASDAQ:META traded up $1.91 during midday trading on Friday, reaching $443.29. The company had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. The company has a fifty day simple moving average of $494.48 and a two-hundred day simple moving average of $404.85.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares in the company, valued at approximately $18,288,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the sale, the insider now owns 37,228 shares of the company’s stock, valued at $18,288,255. The disclosure for this sale can be found here. Insiders sold 1,349,148 shares of company stock worth $649,552,559 in the last quarter. 13.75% of the stock is owned by company 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.