284 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Matrix Trust Co

Matrix Trust Co bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, HoldingsChannel.com reports. The firm bought 284 shares of the social networking company’s stock, valued at approximately $166,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JDM Financial Group LLC bought a new stake in Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the 4th quarter valued at $41,000. Halpern Financial Inc. bought a new stake in Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms in the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the transaction, the chief operating officer now directly owns 11,120 shares of the company’s stock, valued at approximately $6,456,828. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 423,427 shares of company stock valued at $256,996,450 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $608.33 on Tuesday. Meta Platforms, Inc. has a one year low of $358.61 and a one year high of $638.40. The company has a market capitalization of $1.54 trillion, a PE ratio of 28.65, a P/E/G ratio of 1.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a 50-day simple moving average of $594.58 and a two-hundred day simple moving average of $554.18.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on META shares. Pivotal Research boosted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. TD Cowen raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Piper Sandler boosted their price target on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. UBS Group raised their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Mizuho boosted their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $650.05.

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.