5T Wealth LLC Invests $1.01 Million in Meta Platforms, Inc. (NASDAQ:META)

5T Wealth LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,730 shares of the social networking company’s stock, valued at approximately $1,013,000.

Several other hedge funds and other institutional investors have also modified their holdings of META. JDM Financial Group LLC bought a new position in Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management bought a new position in Meta Platforms in the fourth quarter worth $41,000. Cordant Inc. bought a new position in Meta Platforms in the fourth quarter worth $59,000. Finally, Reston Wealth Management LLC bought a new position in Meta Platforms in the third quarter worth $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.6 %

Shares of Meta Platforms stock opened at $683.62 on Monday. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The stock has a market cap of $1.73 trillion, a P/E ratio of 28.58, a P/E/G ratio of 1.42 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $647.09 and its 200-day moving average is $591.96.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the company posted $5.33 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is presently 8.78%.

Wall Street Analyst Weigh In

META has been the subject of a number of analyst reports. Truist Financial lifted their price objective on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Piper Sandler raised their target price on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Raymond James reiterated a “strong-buy” rating and issued a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. BMO Capital Markets lifted their price objective on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their target price on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $719.26.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the transaction, the chief operating officer now directly owns 20,935 shares in the company, valued at $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 809,804 shares of company stock valued at $523,576,440. 13.71% of the stock is owned by insiders.

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.