Echo Wealth Management LLC Has $468,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Echo Wealth Management LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799 shares of the social networking company’s stock after selling 34 shares during the quarter. Echo Wealth Management LLC’s holdings in Meta Platforms were worth $468,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in Meta Platforms during the second quarter worth about $1,559,000. Quarry LP increased its position in Meta Platforms by 208.3% during the 2nd quarter. Quarry LP now owns 259 shares of the social networking company’s stock worth $131,000 after purchasing an additional 175 shares in the last quarter. SPC Financial Inc. lifted its stake in Meta Platforms by 2.3% in the 2nd quarter. SPC Financial Inc. now owns 1,077 shares of the social networking company’s stock valued at $543,000 after purchasing an additional 24 shares during the last quarter. SRN Advisors LLC boosted its position in Meta Platforms by 127.4% in the second quarter. SRN Advisors LLC now owns 5,547 shares of the social networking company’s stock valued at $2,797,000 after buying an additional 3,108 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Meta Platforms during the second quarter worth $529,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, insider Nicholas Clegg sold 1,131 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $652,767.96. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at approximately $709,329.64. This represents a 47.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 661,312 shares of company stock worth $407,377,422. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $676.49 on Thursday. The company has a market capitalization of $1.71 trillion, a P/E ratio of 31.86, a P/E/G ratio of 1.18 and a beta of 1.19. The business has a fifty day simple moving average of $608.52 and a two-hundred day simple moving average of $563.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $387.10 and a 1 year high of $682.58.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate 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 last year, the company posted $5.33 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. 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 (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on META. Barclays boosted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. UBS Group upped their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $655.41.

Read Our Latest Analysis on Meta Platforms

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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