1900 Wealth Management LLC Reduces Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

1900 Wealth Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,342 shares of the social networking company’s stock after selling 275 shares during the quarter. 1900 Wealth Management LLC’s holdings in Meta Platforms were worth $1,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Aspire Private Capital LLC boosted its holdings in Meta Platforms by 39.9% during the 4th quarter. Aspire Private Capital LLC now owns 3,318 shares of the social networking company’s stock valued at $1,174,000 after acquiring an additional 947 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Meta Platforms by 6.8% in the 4th quarter. California Public Employees Retirement System now owns 4,873,847 shares of the social networking company’s stock worth $1,725,147,000 after buying an additional 309,497 shares during the period. Foster & Motley Inc. raised its position in shares of Meta Platforms by 2.8% in the 4th quarter. Foster & Motley Inc. now owns 20,990 shares of the social networking company’s stock worth $7,430,000 after acquiring an additional 569 shares in the last quarter. RWA Wealth Partners LLC increased its position in Meta Platforms by 85.3% during the 4th quarter. RWA Wealth Partners LLC now owns 58,474 shares of the social networking company’s stock valued at $20,697,000 after buying an additional 26,925 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its position in Meta Platforms by 3.3% during the 4th quarter. Sage Mountain Advisors LLC now owns 8,543 shares of the social networking company’s stock valued at $3,024,000 after buying an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. Evercore ISI upped their target price on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Canaccord Genuity Group raised their target price on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Sanford C. Bernstein raised their price target on Meta Platforms from $535.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. KeyCorp lowered their price target on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Bank of America lifted their target price on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $520.28.

Meta Platforms Stock Performance

META traded up $11.79 on Tuesday, reaching $493.52. The stock had a trading volume of 5,946,420 shares, compared to its average volume of 17,010,574. The business’s 50-day moving average price is $494.81 and its two-hundred day moving average price is $401.23. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $531.49. The company has a market cap of $1.26 trillion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. 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 (NASDAQ:META) last posted its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share 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 company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same period in the previous year, the business posted $3.00 EPS. Meta Platforms’s revenue was up 24.7% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared 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 yield of 0.41%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 13.42%.

Insider Buying and Selling

In other news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total transaction of $228,664.00. Following the transaction, the insider now directly owns 34,720 shares of the company’s stock, valued at $14,026,880. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now directly owns 18,432 shares in the company, valued at $8,723,496.96. The disclosure for this sale can be found here. Insiders sold a total of 1,391,935 shares of company stock worth $666,288,408 in the last 90 days. Company insiders own 14.03% of the company’s stock.

Meta Platforms 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.