Southland Equity Partners LLC grew its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 591 shares of the social networking company’s stock after acquiring an additional 82 shares during the quarter. Southland Equity Partners LLC’s holdings in Meta Platforms were worth $346,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. JDM Financial Group LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the 4th quarter valued at about $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter worth about $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on META shares. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Bank of America lifted their price target on shares of Meta Platforms from $660.00 to $710.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $654.20.
Meta Platforms Trading Up 1.9 %
Meta Platforms stock opened at $659.88 on Tuesday. The firm has a market cap of $1.67 trillion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $387.10 and a 1 year high of $663.87. The firm’s 50 day moving average price is $604.04 and its two-hundred day moving average price is $561.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.
Insider Activity
In other news, insider Nicholas Clegg sold 1,131 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $652,767.96. Following the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $709,329.64. This represents a 47.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 603,032 shares of company stock worth $368,666,614 over the last 90 days. 13.71% of the stock is owned by company insiders.
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.
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