Linden Thomas Advisory Services LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,157 shares of the social networking company’s stock after purchasing an additional 2,504 shares during the quarter. Meta Platforms makes up approximately 1.5% of Linden Thomas Advisory Services LLC’s investment portfolio, making the stock its 3rd largest position. Linden Thomas Advisory Services LLC’s holdings in Meta Platforms were worth $11,802,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Lindenwold Advisors INC grew its stake in shares of Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares in the last quarter. Insight Wealth Strategies LLC grew its position in Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after buying an additional 17 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its stake in Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after buying an additional 17 shares during the period. Central Valley Advisors LLC raised its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares in the last quarter. Finally, Cherrydale Wealth Management LLC lifted its stake in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
META opened at $674.33 on Wednesday. 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 market cap of $1.70 trillion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The stock has a 50-day moving average of $606.30 and a 200-day moving average of $562.78. Meta Platforms, Inc. has a 52-week low of $387.10 and a 52-week high of $682.58.
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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.
Insider Activity at Meta Platforms
In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $644.76, for a total value of $23,160,423.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $618.00, for a total value of $255,234.00. Following the sale, the chief operating officer now owns 16,275 shares of the company’s stock, valued at approximately $10,057,950. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 602,612 shares of company stock worth $368,414,542. 13.71% of the stock is owned by insiders.
Analysts Set New Price Targets
META has been the topic of several recent analyst reports. Piper Sandler boosted their target price on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Robert W. Baird boosted 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. Raymond James lifted their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. JMP Securities reissued a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a report on Monday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $700.00 price objective (up previously from $680.00) on shares of Meta Platforms in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $654.20.
Read Our Latest Analysis on META
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.
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