Meta Platforms, Inc. (NASDAQ:META) is Quantum Private Wealth LLC’s 4th Largest Position

Quantum Private Wealth LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 44,819 shares of the social networking company’s stock after selling 199 shares during the quarter. Meta Platforms accounts for approximately 6.6% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 4th biggest holding. Quantum Private Wealth LLC’s holdings in Meta Platforms were worth $15,864,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in META. WoodTrust Financial Corp increased its position in Meta Platforms by 1.8% in the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after buying an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners increased its holdings in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after acquiring an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC raised its stake in Meta Platforms by 1.9% during the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after acquiring an additional 28 shares during the period. Edge Wealth Management LLC lifted its holdings in Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after purchasing an additional 28 shares in the last quarter. Finally, Yarger Wealth Strategies LLC boosted its position in shares of Meta Platforms by 4.0% in the fourth quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after purchasing an additional 28 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on META shares. Barclays increased their price target on Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. upped their price objective on Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Tigress Financial upped their target price on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research report on Friday, February 9th. Jefferies Financial Group boosted their price objective on Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Susquehanna raised their price objective on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $509.28.

Meta Platforms Stock Down 1.5 %

Shares of NASDAQ:META traded down $7.28 during midday trading on Wednesday, hitting $492.48. 3,793,059 shares of the company’s stock traded hands, compared to its average volume of 16,961,160. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market cap of $1.26 trillion, a PE ratio of 33.34, a P/E/G ratio of 1.28 and a beta of 1.20. The firm’s fifty day moving average price is $493.16 and its two-hundred day moving average price is $396.01. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.06 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 13.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on 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 directly owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on 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 directly owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $516.51, for a total value of $253,089.90. Following the transaction, the chief operating officer now directly owns 8,069 shares in the company, valued at $4,167,719.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,439,788 shares of company stock worth $684,542,792. 14.03% of the stock is owned by insiders.

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.