Masso Torrence Wealth Management Inc. Purchases 47 Shares of Meta Platforms, Inc. (NASDAQ:META)

Masso Torrence Wealth Management Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,230 shares of the social networking company’s stock after purchasing an additional 47 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Meta Platforms were worth $435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Stone House Investment Management LLC grew its holdings in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC lifted its stake in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares in the last quarter. PayPay Securities Corp boosted its position in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 3.1 %

META stock traded up $14.94 during midday trading on Tuesday, hitting $496.67. The company’s stock had a trading volume of 11,876,079 shares, compared to its average volume of 17,088,047. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $531.49. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 33.10, a PEG ratio of 1.22 and a beta of 1.20. 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 firm has a 50-day simple moving average of $494.81 and a 200-day simple moving average of $401.23.

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, topping analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the company earned $3.00 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 13.42%.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. Wedbush lifted their price objective on shares of Meta Platforms from $420.00 to $520.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday. Canaccord Genuity Group upped their price target on Meta Platforms from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Barclays upped their price target on Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Morgan Stanley upped their price target on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $520.28.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $392.36, for a total value of $7,722,037.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Susan J. Li sold 10,956 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total value of $7,722,037.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,391,935 shares of company stock valued at $666,288,408. 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.