Concord Wealth Partners Purchases 788 Shares of Meta Platforms, Inc. (NASDAQ:META)

Concord Wealth Partners grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,496 shares of the social networking company’s stock after buying an additional 788 shares during the quarter. Concord Wealth Partners’ holdings in Meta Platforms were worth $3,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Stone House Investment Management LLC boosted its holdings 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 worth $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Meta Platforms by 68.9% in 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. PayPay Securities Corp raised its position in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares during the period. Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 4.3 %

NASDAQ:META traded up $18.54 during trading hours on Wednesday, hitting $448.71. The company had a trading volume of 15,480,944 shares, compared to its average volume of 18,388,355. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $492.83 and a 200 day moving average of $406.97. The company has a market cap of $1.14 trillion, a P/E ratio of 24.87, a P/E/G 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 earnings per share (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 analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts expect that Meta Platforms, Inc. will post 20.17 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial lowered their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Bank of America raised their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Finally, Oppenheimer decreased their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $509.18.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the sale, the insider now owns 34,168 shares in the company, valued at $15,853,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $441.54, for a total transaction of $216,354.60. Following the sale, the chief operating officer now owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total value of $256,128.00. Following the sale, the insider now directly owns 34,168 shares in the company, valued at approximately $15,853,952. The disclosure for this sale can be found here. Insiders sold 1,257,291 shares of company stock worth $612,916,087 over the last 90 days. 13.71% of the stock is owned by insiders.

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.