Drive Wealth Management LLC Purchases 889 Shares of Meta Platforms, Inc. (NASDAQ:META)

Drive Wealth Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 13.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,606 shares of the social networking company’s stock after buying an additional 889 shares during the period. Meta Platforms makes up approximately 1.1% of Drive Wealth Management LLC’s investment portfolio, making the stock its 17th biggest position. Drive Wealth Management LLC’s holdings in Meta Platforms were worth $4,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in META. Lindenwold Advisors INC increased its position in shares of Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares during the period. Insight Wealth Strategies LLC increased its stake in shares of Meta Platforms by 1.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after buying an additional 17 shares during the period. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Meta Platforms by 0.6% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC lifted its stake in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the period. Finally, Cherrydale Wealth Management LLC boosted its holdings in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $673.57, for a total transaction of $24,195,307.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 18,644 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.55, for a total value of $10,320,386.20. Following the completion of the transaction, the chief financial officer now owns 46,769 shares of the company’s stock, valued at $25,888,979.95. The trade was a 28.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 661,312 shares of company stock worth $407,377,422 over the last three months. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. BMO Capital Markets raised their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Truist Financial lifted their price objective on Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Robert W. Baird raised their target price on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Monday. Finally, Guggenheim increased their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $655.41.

View Our Latest Stock Analysis on META

Meta Platforms Trading Up 0.3 %

Shares of META stock opened at $676.49 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $1.71 trillion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $387.10 and a 1 year high of $682.58. The firm has a fifty day moving average price of $608.52 and a 200-day moving average price of $563.58.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same period in the previous year, the business earned $5.33 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Meta Platforms Company Profile

(Free Report)

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.

Further Reading

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

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