Unique Wealth Strategies LLC Invests $3.62 Million in Meta Platforms, Inc. (NASDAQ:META)

Unique Wealth Strategies LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,234 shares of the social networking company’s stock, valued at approximately $3,622,000. Meta Platforms makes up approximately 2.4% of Unique Wealth Strategies LLC’s investment portfolio, making the stock its 6th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms during the fourth quarter valued at $39,000. Cranbrook Wealth Management LLC increased its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. Finally, PayPay Securities Corp increased its position in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Javier Olivan sold 6,500 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $27,574,000. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Javier Olivan sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $400.00, for a total transaction of $2,600,000.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 65,600 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $400.50, for a total transaction of $26,272,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,349,148 shares of company stock worth $649,552,559. 13.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

META has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday. JMP Securities reissued a “market outperform” rating and set a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. UBS Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley boosted their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Canaccord Genuity Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 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 assigned a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Stock Performance

NASDAQ:META traded up $1.91 during midday trading on Friday, hitting $443.29. The company’s stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49. The firm’s 50 day moving average is $494.48 and its 200-day moving average is $404.27. 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 market cap of $1.13 trillion, a P/E ratio of 25.46, a P/E/G ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Equities analysts anticipate that Meta Platforms, Inc. will post 20.33 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

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.