Rappaport Reiches Capital Management LLC Purchases 224 Shares of Meta Platforms, Inc. (NASDAQ:META)

Rappaport Reiches Capital Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,348 shares of the social networking company’s stock after purchasing an additional 224 shares during the quarter. Meta Platforms makes up approximately 0.5% of Rappaport Reiches Capital Management LLC’s holdings, making the stock its 24th biggest holding. Rappaport Reiches Capital Management LLC’s holdings in Meta Platforms were worth $1,960,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 420 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the transaction, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at approximately $310,890,460.68. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 603,032 shares of company stock worth $368,666,614. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird raised their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Guggenheim lifted their price objective on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. UBS Group boosted their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Roth Mkm upped their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup lifted their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $654.20.

Get Our Latest Research Report on Meta Platforms

Meta Platforms Stock Up 1.9 %

META stock opened at $659.88 on Tuesday. Meta Platforms, Inc. has a 52 week low of $387.10 and a 52 week high of $663.87. The business has a 50-day simple moving average of $604.04 and a 200 day simple moving average of $561.55. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.67 trillion, a PE 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 issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Meta Platforms Profile

(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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