Clarendon Private LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Clarendon Private LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:METAFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,130 shares of the social networking company’s stock, valued at approximately $3,589,000. Meta Platforms makes up 3.8% of Clarendon Private LLC’s portfolio, making the stock its 6th biggest holding.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Meta Platforms by 1.5% during the third 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 acquiring an additional 698,884 shares in the last quarter. Jennison Associates LLC boosted its stake in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 661,312 shares of company stock valued at $407,377,422 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Guggenheim boosted their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wolfe Research increased their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler raised their target price on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Monday. Finally, Jefferies Financial Group raised their price target on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $655.41.

Get Our Latest Research Report on META

Meta Platforms Stock Up 0.3 %

NASDAQ META opened at $676.49 on Thursday. The stock has a 50 day moving average price of $608.52 and a 200-day moving average price of $563.58. Meta Platforms, Inc. has a one year low of $387.10 and a one year high of $682.58. The company has a market capitalization of $1.71 trillion, a P/E ratio of 31.86, a P/E/G ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 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 period in the previous year, the company posted $5.33 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend 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 (DPR) is presently 9.42%.

Meta Platforms Company 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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