Prevail Innovative Wealth Advisors LLC Acquires New Position in Meta Platforms, Inc. (NASDAQ:META)

Prevail Innovative Wealth Advisors LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,600 shares of the social networking company’s stock, valued at approximately $3,864,000. Meta Platforms comprises approximately 1.1% of Prevail Innovative Wealth Advisors LLC’s portfolio, making the stock its 25th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Seelaus Asset Management LLC boosted its position in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning lifted its stake in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after buying an additional 15 shares during the last quarter. Maiden Cove Capital LLC boosted its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares during the period. Stephens Consulting LLC grew its position in shares of Meta Platforms by 5.3% during the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after acquiring an additional 16 shares during the last quarter. Finally, VeraBank N.A. lifted its position in Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after purchasing an additional 16 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 4,706 shares of the firm’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the transaction, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $603.98, for a total value of $21,695,565.58. The disclosure for this sale can be found here. Insiders have sold a total of 584,823 shares of company stock worth $386,274,777 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $576.74 on Friday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The business’s 50-day moving average price is $655.23 and its two-hundred day moving average price is $609.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $1.46 trillion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 company earned $5.33 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.36%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Royal Bank of Canada lifted their target price on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Oppenheimer increased their price target on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial lifted their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Wolfe Research raised their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

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.