Unique Wealth Strategies LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Unique Wealth Strategies LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,234 shares of the social networking company’s stock, valued at approximately $3,622,000. Meta Platforms comprises 2.4% of Unique Wealth Strategies LLC’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McCarthy Asset Management Inc. grew its position in Meta Platforms by 10.8% during the fourth quarter. McCarthy Asset Management Inc. now owns 1,438 shares of the social networking company’s stock worth $509,000 after buying an additional 140 shares in the last quarter. Mogy Joel R Investment Counsel Inc. grew its position in Meta Platforms by 0.4% during the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 95,503 shares of the social networking company’s stock worth $33,804,000 after buying an additional 351 shares in the last quarter. Consolidated Planning Corp grew its position in Meta Platforms by 3.0% during the fourth quarter. Consolidated Planning Corp now owns 10,744 shares of the social networking company’s stock worth $3,803,000 after buying an additional 308 shares in the last quarter. Intact Investment Management Inc. grew its position in Meta Platforms by 2.2% during the fourth quarter. Intact Investment Management Inc. now owns 6,850 shares of the social networking company’s stock worth $2,425,000 after buying an additional 150 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Meta Platforms by 0.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,477,463 shares of the social networking company’s stock worth $877,798,000 after buying an additional 9,475 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 6,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.00, for a total value of $2,600,000.00. Following the transaction, the chief operating officer now owns 68,935 shares of the company’s stock, valued at approximately $27,574,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Javier Olivan sold 6,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.00, for a total value of $2,600,000.00. Following the transaction, the chief operating officer now owns 68,935 shares of the company’s stock, valued at approximately $27,574,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were 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 sold a total of 1,349,148 shares of company stock worth $649,552,559 in the last three months. Company insiders own 13.75% of the company’s stock.

Meta Platforms Stock Up 0.4 %

Shares of META traded up $1.91 during trading hours on Friday, hitting $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67. The firm has a 50 day simple moving average of $494.48 and a 200-day simple moving average of $404.27. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.12 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.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating 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 32.03% and a net margin of 32.06%. Sell-side analysts predict that Meta Platforms, Inc. will post 20.33 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on META. Robert W. Baird reduced their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday. Bank of America increased their price target on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Roth Mkm upped their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley upped their target price on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Citigroup cut their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $509.18.

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.