Worth Asset Management LLC Has $479,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Worth Asset Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 818 shares of the social networking company’s stock after buying an additional 103 shares during the quarter. Worth Asset Management LLC’s holdings in Meta Platforms were worth $479,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of META. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $595,152,000. World Investment Advisors LLC increased its position in shares of Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $584.83, for a total value of $241,534.79. Following the sale, the chief operating officer now owns 11,533 shares of the company’s stock, valued at approximately $6,744,844.39. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,640 shares of company stock valued at $219,037,690 in the last three months. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Citigroup boosted their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.80.

Meta Platforms Price Performance

Meta Platforms stock traded down $8.79 during midday trading on Wednesday, reaching $609.10. The company’s stock had a trading volume of 5,013,228 shares, compared to its average volume of 11,110,495. The business has a 50-day moving average price of $591.41 and a 200-day moving average price of $551.33. Meta Platforms, Inc. has a 52 week low of $355.36 and a 52 week high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.54 trillion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. Meta Platforms’s payout ratio is 9.42%.

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.