1834 Investment Advisors Co. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,036 shares of the social networking company’s stock after purchasing an additional 25 shares during the period. 1834 Investment Advisors Co.’s holdings in Meta Platforms were worth $1,778,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. 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 bought a new position in Meta Platforms in the fourth quarter valued at approximately $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Analyst Upgrades and Downgrades
META has been the topic of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald cut their target price on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Arete Research raised Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Finally, Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $655.41.
Insider Buying and Selling at Meta Platforms
In other news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $673.57, for a total value of $24,195,307.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 661,312 shares of company stock worth $407,377,422. 13.71% of the stock is currently owned by insiders.
Meta Platforms Stock Performance
Meta Platforms stock opened at $676.49 on Thursday. The stock has a market cap of $1.71 trillion, a PE ratio of 31.86, a P/E/G ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $387.10 and a 12-month high of $682.58. The business’s 50-day moving average price is $608.52 and its two-hundred day moving average price is $563.58.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same quarter in the previous year, the business posted $5.33 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.30%. Meta Platforms’s dividend payout ratio is currently 9.42%.
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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