Centurion Wealth Management LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Centurion Wealth Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,891 shares of the social networking company’s stock after acquiring an additional 66 shares during the period. Centurion Wealth Management LLC’s holdings in Meta Platforms were worth $669,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after buying an additional 1,733,182 shares during the last quarter. FMR LLC raised its holdings in shares of Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares during the last quarter. Morgan Stanley raised its holdings in shares of Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after buying an additional 1,184,978 shares during the last quarter. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $4,223,148,000. Finally, Northern Trust Corp raised its holdings in shares of Meta Platforms by 4.3% in the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after buying an additional 946,871 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $513.32, for a total value of $251,526.80. Following the completion of the transaction, the chief operating officer now directly owns 10,029 shares in the company, valued at $5,148,086.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $356.40, for a total transaction of $201,722.40. Following the completion of the sale, the insider now owns 36,418 shares of the company’s stock, valued at $12,979,375.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $513.32, for a total value of $251,526.80. Following the sale, the chief operating officer now directly owns 10,029 shares of the company’s stock, valued at approximately $5,148,086.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,495,983 shares of company stock worth $705,134,392. 14.03% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Meta Platforms stock opened at $527.34 on Monday. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 35.39, a PEG ratio of 1.36 and a beta of 1.20. The stock has a fifty day moving average price of $480.84 and a 200 day moving average price of $385.49. Meta Platforms, Inc. has a 52 week low of $207.13 and a 52 week high of $530.70. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 19.94 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors 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 yield of 0.38%. Meta Platforms’s payout ratio is currently 13.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Mizuho increased their price target on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. KeyCorp increased their price target on shares of Meta Platforms from $465.00 to $575.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Bank of America increased their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Piper Sandler increased their price target on shares of Meta Platforms from $415.00 to $525.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein increased their price target on shares of Meta Platforms from $435.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $499.38.

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.