Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,977 shares of the social networking company’s stock after buying an additional 387 shares during the period. Geneos Wealth Management Inc.’s holdings in Meta Platforms were worth $9,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its position in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC increased its holdings in shares of Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein upped their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Monness Crespi & Hardt lifted their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Morgan Stanley lifted their target price on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $654.20.

View Our Latest Analysis on META

Meta Platforms Price Performance

Meta Platforms stock opened at $674.33 on Wednesday. The company has a fifty day simple moving average of $606.30 and a 200-day simple moving average of $562.78. 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 firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 52-week low of $387.10 and a 52-week high of $682.58.

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, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $644.76, for a total transaction of $23,160,423.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 602,612 shares of company stock worth $368,414,542. 13.71% of the stock is owned by corporate insiders.

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.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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

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