Bridgewealth Advisory Group LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Bridgewealth Advisory Group LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 611 shares of the social networking company’s stock, valued at approximately $216,000.

Other large investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in shares of Meta Platforms by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares in the last quarter. Bank of Stockton raised its position in shares of Meta Platforms by 9.2% in the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after purchasing an additional 400 shares during the last quarter. Signify Wealth purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $228,000. Illinois Municipal Retirement Fund raised its position in Meta Platforms by 1.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after buying an additional 4,025 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. raised its position in Meta Platforms by 1.5% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after buying an additional 164 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 1.7 %

META traded down $7.72 on Monday, hitting $435.57. The company had a trading volume of 4,621,937 shares, compared to its average volume of 18,206,273. The firm has a market cap of $1.11 trillion, a P/E ratio of 25.46, a PEG ratio of 1.15 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The company’s fifty day moving average price is $494.48 and its 200 day moving average price is $405.39. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial cut their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut 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. Bank of America lifted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Wolfe Research cut their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.18.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the transaction, the insider now directly owns 37,228 shares of the company’s stock, valued at $18,288,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. Insiders have sold 1,277,048 shares of company stock worth $620,679,759 over the last three months. Company insiders own 13.71% of the company’s stock.

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.