Cassia Capital Partners LLC Purchases 283 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cassia Capital Partners LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,946 shares of the social networking company’s stock after purchasing an additional 283 shares during the quarter. Meta Platforms makes up approximately 0.7% of Cassia Capital Partners LLC’s holdings, making the stock its 20th biggest holding. Cassia Capital Partners LLC’s holdings in Meta Platforms were worth $1,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. JDM Financial Group LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management bought a new position in Meta Platforms in the 4th quarter valued at about $41,000. Cordant Inc. bought a new position in Meta Platforms during the fourth quarter worth about $59,000. Finally, Reston Wealth Management LLC bought a new position in shares of Meta Platforms in the third quarter worth $61,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.4 %

Meta Platforms stock opened at $714.52 on Monday. The company has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $627.23 and its two-hundred day simple moving average is $575.09. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $725.01.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the business earned $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

Insider Transactions at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 701,146 shares of company stock valued at $435,387,895 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the topic of several research reports. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Pivotal Research raised their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Truist Financial increased their target price on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Citigroup raised their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $710.83.

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.