Meta Platforms, Inc. (NASDAQ:META) is Finer Wealth Management Inc.’s 6th Largest Position

Finer Wealth Management Inc. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,710 shares of the social networking company’s stock after selling 79 shares during the quarter. Meta Platforms accounts for approximately 4.6% of Finer Wealth Management Inc.’s holdings, making the stock its 6th biggest holding. Finer Wealth Management Inc.’s holdings in Meta Platforms were worth $8,027,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Ballentine Partners LLC boosted its stake in shares of Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after purchasing an additional 808 shares during the period. UMB Bank n.a. raised its holdings in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after buying an additional 897 shares during the last quarter. Brueske Advisory Services LLC purchased a new stake in Meta Platforms during the 4th quarter valued at $459,000. Apollon Financial LLC grew its holdings in Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after acquiring an additional 148 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after acquiring an additional 110,040 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of META opened at $521.52 on Wednesday. The firm has a market cap of $1.32 trillion, a PE ratio of 21.80, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $621.07 and a two-hundred day simple moving average of $608.54.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the business earned $5.33 EPS. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analysts Forecast Growth

META has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Jefferies Financial Group cut their price objective on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Wedbush decreased their target price on Meta Platforms from $770.00 to $680.00 and set an “outperform” rating for the company in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $790.00 price target on shares of Meta Platforms in a report on Wednesday, April 2nd. Finally, Mizuho upped their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $690.79.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the company’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $618.00, for a total transaction of $255,234.00. Following the sale, the chief operating officer now owns 16,275 shares in the company, valued at $10,057,950. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 414,293 shares of company stock valued at $282,029,046 in the last 90 days. Company insiders own 13.71% 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.