Lake Hills Wealth Management LLC Has $279,000 Holdings in Meta Platforms, Inc. $META

Lake Hills Wealth Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 66.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 423 shares of the social networking company’s stock after selling 843 shares during the period. Lake Hills Wealth Management LLC’s holdings in Meta Platforms were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Goldstone Financial Group LLC boosted its stake in shares of Meta Platforms by 44.4% during the 3rd quarter. Goldstone Financial Group LLC now owns 3,752 shares of the social networking company’s stock worth $2,756,000 after buying an additional 1,153 shares during the last quarter. CW Advisors LLC increased its position in shares of Meta Platforms by 27.8% in the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock valued at $130,467,000 after acquiring an additional 38,432 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Meta Platforms by 34.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 52,252 shares of the social networking company’s stock valued at $38,373,000 after acquiring an additional 13,311 shares during the last quarter. Cherokee Insurance Co bought a new stake in Meta Platforms during the second quarter worth about $3,321,000. Finally, Becker Capital Management Inc. raised its holdings in Meta Platforms by 5.0% during the third quarter. Becker Capital Management Inc. now owns 35,052 shares of the social networking company’s stock worth $25,741,000 after acquiring an additional 1,657 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 8,089 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the completion of the sale, the chief technology officer directly owned 2,841 shares in the company, valued at $1,793,352.84. This trade represents a 74.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 56,571 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $644.70, for a total value of $36,471,323.70. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,929 shares of company stock valued at $103,074,540 in the last three months. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

META opened at $603.80 on Tuesday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The business has a 50 day moving average of $648.46 and a 200-day moving average of $671.40. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 25.69, a PEG ratio of 0.92 and a beta of 1.30.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. During the same quarter last year, the firm posted $8.02 EPS. The company’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be paid a $0.525 dividend. The ex-dividend date is Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio is 8.94%.

Analyst Ratings Changes

A number of research analysts have weighed in on META shares. Royal Bank Of Canada restated an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a research note on Thursday, January 29th. Robert W. Baird upped their price objective on Meta Platforms from $815.00 to $830.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. TD Cowen reissued a “buy” rating on shares of Meta Platforms in a report on Tuesday, January 13th. Bank of America raised their target price on shares of Meta Platforms from $810.00 to $885.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Argus restated a “buy” rating and set a $800.00 target price on shares of Meta Platforms in a report on Monday, February 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $846.63.

Read Our Latest Stock Analysis on META

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Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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