Element Wealth LLC Has $1.18 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Element Wealth LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,319 shares of the social networking company’s stock after selling 148 shares during the period. Meta Platforms makes up 0.7% of Element Wealth LLC’s holdings, making the stock its 27th biggest holding. Element Wealth LLC’s holdings in Meta Platforms were worth $1,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC boosted its stake in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $39,000. Cranbrook Wealth Management LLC lifted its stake in shares of Meta Platforms by 80.4% during the 4th 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 in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. Finally, PayPay Securities Corp lifted its stake 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 buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock traded up $14.37 during trading on Tuesday, hitting $496.10. The stock had a trading volume of 14,709,242 shares, compared to its average volume of 17,100,711. The stock has a market capitalization of $1.26 trillion, a P/E ratio of 33.10, a PEG ratio of 1.22 and a beta of 1.20. The company’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 twelve month low of $207.13 and a twelve month high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:META) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is currently 13.42%.

Wall Street Analyst Weigh In

Several research firms have issued reports on META. JMP Securities reiterated a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday. Monness Crespi & Hardt lifted their target price on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Roth Mkm reaffirmed a “buy” rating and set a $500.00 target price on shares of Meta Platforms in a research note on Monday, March 18th. Tigress Financial lifted their target price on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. Finally, Morgan Stanley boosted their price objective on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $520.28.

Insider Activity

In related news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total transaction of $7,722,037.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction dated Wednesday, January 24th. The shares were 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,391,935 shares of company stock valued at $666,288,408. 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.