Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 68.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 690 shares of the social networking company’s stock after selling 1,497 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Meta Platforms were worth $244,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. WoodTrust Financial Corp boosted its position in Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after acquiring an additional 27 shares during the last quarter. Tennessee Valley Asset Management Partners raised its position in shares of Meta Platforms by 0.6% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after purchasing an additional 27 shares during the period. Peterson Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 28 shares during the last quarter. Edge Wealth Management LLC boosted its holdings in shares of Meta Platforms by 4.0% during the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after buying an additional 28 shares during the period. Finally, Yarger Wealth Strategies LLC grew its stake in Meta Platforms by 4.0% in the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock valued at $260,000 after buying an additional 28 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $494.17 on Thursday. The stock has a 50-day moving average price of $493.65 and a two-hundred day moving average price of $396.70. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49. The company has a market capitalization of $1.26 trillion, a PE ratio of 33.17, a P/E/G ratio of 1.28 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. During the same quarter last year, the firm earned $3.00 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 20.06 EPS for the current year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on META shares. Truist Financial raised their price objective on shares of Meta Platforms from $525.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on Meta Platforms from $500.00 to $555.00 and gave the company a “buy” rating in a research note on Monday. UBS Group upped their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler lifted their target price on Meta Platforms from $525.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company reduced their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $518.15.

Insider Activity

In other news, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $517.75, for a total transaction of $253,697.50. Following the sale, the chief operating officer now directly owns 7,579 shares in the company, valued at approximately $3,924,027.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,440,278 shares of company stock valued at $684,796,490. 13.75% of the stock is currently owned by insiders.

Meta Platforms Company 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.