Lake Hills Wealth Management LLC Has $279,000 Holdings in Meta Platforms, Inc. $META

Lake Hills Wealth Management LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 66.6% during the 4th quarter, Holdings Channel reports. The firm owned 423 shares of the social networking company’s stock after selling 843 shares during the period. Lake Hills Wealth Management LLC’s holdings in Meta Platforms were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Lakeridge Wealth Management LLC raised its stake in Meta Platforms by 28.9% in the fourth quarter. Lakeridge Wealth Management LLC now owns 1,136 shares of the social networking company’s stock valued at $750,000 after purchasing an additional 255 shares in the last quarter. Holistic Financial Partners lifted its position in Meta Platforms by 16.7% during the fourth quarter. Holistic Financial Partners now owns 1,808 shares of the social networking company’s stock worth $1,193,000 after purchasing an additional 259 shares during the period. Baring Financial LLC grew its stake in Meta Platforms by 11.5% during the fourth quarter. Baring Financial LLC now owns 879 shares of the social networking company’s stock worth $580,000 after buying an additional 91 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Meta Platforms by 3.6% in the 4th quarter. Gilbert & Cook Inc. now owns 1,543 shares of the social networking company’s stock valued at $1,019,000 after buying an additional 53 shares during the period. Finally, BCGM Wealth Management LLC increased its holdings in Meta Platforms by 2.3% in the 4th quarter. BCGM Wealth Management LLC now owns 1,387 shares of the social networking company’s stock valued at $916,000 after buying an additional 31 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Meta Platforms

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Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $800.00 to $825.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Erste Group Bank raised shares of Meta Platforms from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Tigress Financial boosted their price objective on shares of Meta Platforms from $935.00 to $945.00 and gave the company a “strong-buy” rating in a research report on Wednesday, March 18th. Truist Financial upped their target price on Meta Platforms from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Morgan Stanley raised their target price on Meta Platforms from $750.00 to $825.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $846.63.

Check Out Our Latest Report on Meta Platforms

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 56,571 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $644.70, for a total value of $36,471,323.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 2,461 shares of Meta Platforms stock in a transaction dated Sunday, February 15th. The shares were sold at an average price of $639.77, for a total value of $1,574,473.97. Following the sale, the chief operating officer directly owned 12,108 shares in the company, valued at $7,746,335.16. The trade was a 16.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,929 shares of company stock valued at $103,074,540 in the last 90 days. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $603.80 on Tuesday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market cap of $1.53 trillion, a price-to-earnings ratio of 25.69, a PEG ratio of 0.92 and a beta of 1.30. The firm has a 50 day simple moving average of $648.46 and a 200 day simple moving average of $671.40.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The firm had revenue of $59.89 billion for the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.02 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 8.94%.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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