3,405 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by VCI Wealth Management LLC

VCI Wealth Management LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,405 shares of the social networking company’s stock, valued at approximately $1,205,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. WoodTrust Financial Corp raised its stake in shares of Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after purchasing an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners lifted its holdings in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after purchasing an additional 27 shares during the last quarter. Peterson Wealth Advisors LLC lifted its holdings in Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after purchasing an additional 28 shares during the last quarter. Edge Wealth Management LLC lifted its holdings in Meta Platforms by 4.0% in the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after purchasing an additional 28 shares during the last quarter. Finally, Yarger Wealth Strategies LLC lifted its holdings in Meta Platforms by 4.0% in the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after purchasing an additional 28 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 566 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total transaction of $228,664.00. Following the completion of the transaction, the insider now directly owns 34,720 shares in the company, valued at $14,026,880. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total value of $228,664.00. Following the sale, the insider now directly owns 34,720 shares of the company’s stock, valued at $14,026,880. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,368,829 shares of company stock worth $657,321,830. 13.75% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 10.6 %

Shares of Meta Platforms stock traded down $52.12 during trading hours on Thursday, hitting $441.38. The company’s stock had a trading volume of 82,642,094 shares, compared to its average volume of 18,210,709. Meta Platforms, Inc. has a 12 month low of $208.88 and a 12 month high of $531.49. The stock has a 50 day moving average of $495.93 and a 200 day moving average of $403.14. The company has a market capitalization of $1.13 trillion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. 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 announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. Analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued 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 0.45%. Meta Platforms’s payout ratio is presently 13.42%.

Analyst Ratings Changes

Several brokerages have commented on META. Barclays dropped their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday. Rosenblatt Securities upped their price target on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday. Guggenheim lowered their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America upped their price target on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Sanford C. Bernstein lowered their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Company 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.