Legacy Capital Wealth Partners LLC Acquires 187 Shares of Meta Platforms, Inc. (NASDAQ:META)

Legacy Capital Wealth Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,279 shares of the social networking company’s stock after purchasing an additional 187 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Meta Platforms were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Intellectus Partners LLC grew its stake in shares of Meta Platforms by 7.1% in the fourth quarter. Intellectus Partners LLC now owns 23,487 shares of the social networking company’s stock worth $8,313,000 after purchasing an additional 1,559 shares during the last quarter. Vance Wealth Inc. lifted its holdings in Meta Platforms by 4.4% in the fourth quarter. Vance Wealth Inc. now owns 2,569 shares of the social networking company’s stock worth $909,000 after buying an additional 108 shares during the period. Conservest Capital Advisors Inc. lifted its holdings in Meta Platforms by 16.0% in the fourth quarter. Conservest Capital Advisors Inc. now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 195 shares during the period. Paradigm Financial Partners LLC lifted its holdings in Meta Platforms by 14.4% in the fourth quarter. Paradigm Financial Partners LLC now owns 851 shares of the social networking company’s stock worth $301,000 after buying an additional 107 shares during the period. Finally, Sargent Investment Group LLC lifted its holdings in Meta Platforms by 2.1% in the fourth quarter. Sargent Investment Group LLC now owns 1,856 shares of the social networking company’s stock worth $657,000 after buying an additional 38 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of META traded up $1.91 during trading hours on Friday, reaching $443.29. 32,645,619 shares of the stock traded hands, compared to its average volume of 18,233,678. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49. The company’s 50-day moving average price is $494.48 and its two-hundred day moving average price is $404.85. The company has a market cap of $1.13 trillion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. On average, analysts anticipate that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on META. Sanford C. Bernstein lowered their price objective on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday. Wedbush lowered their price objective on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday. Mizuho raised their price objective on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. 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 report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction on 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 sale, 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 filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction on 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 sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total transaction of $7,751,361.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock worth $649,552,559 in the last 90 days. 13.75% of the stock is currently owned by corporate insiders.

About Meta Platforms

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.