Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Conway Capital Management Inc.

Conway Capital Management Inc. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,859 shares of the social networking company’s stock after acquiring an additional 1,142 shares during the quarter. Meta Platforms accounts for 1.8% of Conway Capital Management Inc.’s portfolio, making the stock its 14th largest position. Conway Capital Management Inc.’s holdings in Meta Platforms were worth $4,016,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fiera Capital Corp boosted its position in Meta Platforms by 35.1% during the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after acquiring an additional 7,089 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth $1,559,000. SkyView Investment Advisors LLC boosted its holdings in shares of Meta Platforms by 2.8% during the second quarter. SkyView Investment Advisors LLC now owns 11,333 shares of the social networking company’s stock worth $5,715,000 after purchasing an additional 311 shares during the last quarter. Ascent Group LLC grew its position in shares of Meta Platforms by 16.1% in the second quarter. Ascent Group LLC now owns 32,104 shares of the social networking company’s stock valued at $16,187,000 after purchasing an additional 4,452 shares during the period. Finally, Doheny Asset Management CA grew its position in shares of Meta Platforms by 20.3% in the second quarter. Doheny Asset Management CA now owns 1,276 shares of the social networking company’s stock valued at $643,000 after purchasing an additional 215 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock opened at $647.49 on Monday. The company has a market cap of $1.63 trillion, a P/E ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19. The business has a 50 day moving average of $601.93 and a two-hundred day moving average of $560.51. Meta Platforms, Inc. has a 52 week low of $385.66 and a 52 week high of $652.00. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald decreased their target price on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Wolfe Research increased their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Truist Financial raised their target price on shares of Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $654.20.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now owns 10,294 shares of the company’s stock, valued at $5,842,668.52. The trade was a 3.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 568,016 shares of company stock worth $346,031,180 in the last ninety 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.