Meta Platforms, Inc. (NASDAQ:META) Stock Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 92.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 291,754 shares of the social networking company’s stock after buying an additional 140,250 shares during the quarter. Meta Platforms accounts for approximately 3.4% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its largest position. Exchange Traded Concepts LLC’s holdings in Meta Platforms were worth $170,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Berbice Capital Management LLC bought a new position in Meta Platforms during the 4th quarter valued at about $10,484,000. Impact Partnership Wealth LLC grew its stake in shares of Meta Platforms by 11.6% during the fourth quarter. Impact Partnership Wealth LLC now owns 2,170 shares of the social networking company’s stock valued at $1,271,000 after buying an additional 226 shares during the last quarter. Southland Equity Partners LLC raised its holdings in shares of Meta Platforms by 16.1% in the fourth quarter. Southland Equity Partners LLC now owns 591 shares of the social networking company’s stock worth $346,000 after buying an additional 82 shares during the period. St. Johns Investment Management Company LLC lifted its stake in shares of Meta Platforms by 9.5% during the 4th quarter. St. Johns Investment Management Company LLC now owns 5,951 shares of the social networking company’s stock worth $3,484,000 after acquiring an additional 515 shares during the last quarter. Finally, LexAurum Advisors LLC boosted its holdings in Meta Platforms by 16.4% during the 4th quarter. LexAurum Advisors LLC now owns 2,164 shares of the social networking company’s stock valued at $1,267,000 after acquiring an additional 305 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $659.88 on Tuesday. The business has a fifty day moving average of $604.04 and a 200 day moving average of $561.55. Meta Platforms, Inc. has a 1 year low of $387.10 and a 1 year high of $663.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization 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 (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, research analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 dividend payout ratio (DPR) is currently 9.42%.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 18,644 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the sale, the chief financial officer now directly owns 46,769 shares of the company’s stock, valued at $25,888,979.95. This trade represents a 28.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on META shares. Jefferies Financial Group increased their target price on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Monday. KeyCorp upped their target price on shares of Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. TD Cowen lifted their price target 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. Finally, Cantor Fitzgerald dropped their price objective on Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $654.20.

Check Out Our Latest Research Report on Meta Platforms

About Meta Platforms

(Free Report)

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

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