Tyche Wealth Partners LLC Invests $1 Million in Meta Platforms, Inc. (NASDAQ:META)

Tyche Wealth Partners LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,837 shares of the social networking company’s stock, valued at approximately $1,004,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Strategies Group Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $228,000. Avior Wealth Management LLC raised its stake in Meta Platforms by 0.5% in the 4th quarter. Avior Wealth Management LLC now owns 24,115 shares of the social networking company’s stock valued at $8,536,000 after acquiring an additional 118 shares during the period. Allen Capital Group LLC raised its stake in Meta Platforms by 2.0% in the 4th quarter. Allen Capital Group LLC now owns 13,665 shares of the social networking company’s stock valued at $4,837,000 after acquiring an additional 271 shares during the period. Macroview Investment Management LLC lifted its holdings in Meta Platforms by 125.8% during the fourth quarter. Macroview Investment Management LLC now owns 429 shares of the social networking company’s stock valued at $152,000 after purchasing an additional 239 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Meta Platforms by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 881,961 shares of the social networking company’s stock worth $312,179,000 after purchasing an additional 34,100 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. Mizuho upped their price target on shares of Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Truist Financial raised their price target on Meta Platforms from $405.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wolfe Research increased their price objective on Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Evercore ISI lifted their target price on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Susquehanna upped their price target on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $509.28.

Meta Platforms Trading Down 0.3 %

META stock traded down $1.69 during mid-day trading on Wednesday, reaching $498.07. The company had a trading volume of 1,321,744 shares, compared to its average volume of 16,928,586. The firm has a 50 day moving average of $493.16 and a 200 day moving average of $396.01. 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, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49. The company has a market capitalization of $1.27 trillion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same period in the prior year, the business earned $3.00 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities analysts predict that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given 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 yield of 0.40%. Meta Platforms’s payout ratio is 13.42%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total transaction of $7,513,615.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $381.77, for a total transaction of $7,513,615.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of the company’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 $5,185,255.68. Following the completion of the transaction, the chief financial officer now directly owns 76,398 shares in the company, valued at $36,157,645.44. The disclosure for this sale can be found here. Insiders sold a total of 1,439,788 shares of company stock worth $684,542,792 over the last three months. Corporate insiders own 14.03% of the company’s stock.

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.