Maridea Wealth Management LLC Has $6.53 Million Holdings in Meta Platforms, Inc. $META

Maridea Wealth Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 22.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,896 shares of the social networking company’s stock after acquiring an additional 1,813 shares during the quarter. Meta Platforms comprises about 1.0% of Maridea Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Maridea Wealth Management LLC’s holdings in Meta Platforms were worth $6,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.8% in the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after purchasing an additional 1,532,568 shares during the period. State Street Corp lifted its position in shares of Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares during the last quarter. Capital World Investors boosted its stake in Meta Platforms by 0.7% during the 3rd quarter. Capital World Investors now owns 39,247,690 shares of the social networking company’s stock valued at $28,823,375,000 after purchasing an additional 278,180 shares during the period. Norges Bank bought a new stake in Meta Platforms during the 2nd quarter valued at approximately $23,155,393,000. Finally, Invesco Ltd. grew its holdings in Meta Platforms by 0.8% in the 3rd quarter. Invesco Ltd. now owns 17,153,754 shares of the social networking company’s stock valued at $12,597,374,000 after buying an additional 142,229 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, CTO Andrew Bosworth sold 8,089 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total value of $5,106,100.36. Following the sale, the chief technology officer owned 2,841 shares of the company’s stock, valued at $1,793,352.84. The trade was a 74.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 56,571 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $644.70, for a total transaction of $36,471,323.70. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 160,929 shares of company stock worth $103,074,540. 13.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Stifel Nicolaus lifted their price target on Meta Platforms from $785.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Wedbush increased their price objective on Meta Platforms from $880.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. KeyCorp lowered their price objective on shares of Meta Platforms from $875.00 to $835.00 and set an “overweight” rating on the stock in a research note on Monday, January 26th. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $808.00 to $890.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $900.00 target price (up from $870.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $846.63.

Read Our Latest Stock Report on META

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Meta Platforms Price Performance

Shares of NASDAQ:META opened at $592.92 on Wednesday. The firm has a market capitalization of $1.50 trillion, a PE ratio of 25.23, a PEG ratio of 0.93 and a beta of 1.30. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The business’s 50 day moving average is $647.70 and its 200-day moving average is $670.27.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 16th. Meta Platforms’s payout ratio is 8.94%.

Meta Platforms 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.

Further Reading

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

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