Advanced Portfolio Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,000 shares of the social networking company's stock, valued at approximately $1,171,000. Meta Platforms accounts for approximately 1.4% of Advanced Portfolio Management LLC's portfolio, making the stock its 29th biggest holding.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after purchasing an additional 14 shares during the last quarter. Seelaus Asset Management LLC lifted its holdings in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning lifted its holdings in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares during the last quarter. Maiden Cove Capital LLC increased its holdings in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after acquiring an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC raised its position in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after acquiring an additional 15 shares in the last quarter. 79.91% of the stock is owned by institutional investors.
Meta Platforms Trading Up 0.4 %
Shares of NASDAQ META traded up $2.25 during trading on Monday, hitting $599.27. 13,858,431 shares of the company traded hands, compared to its average volume of 14,453,595. The firm has a market capitalization of $1.52 trillion, a P/E ratio of 25.05, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $575.29 and a 200-day moving average price of $603.99. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.71 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. Meta Platforms's payout ratio is presently 8.19%.
Insider Buying and Selling
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $702.24, for a total value of $635,527.20. Following the transaction, the insider now owns 28,390 shares in the company, valued at $19,936,593.60. The trade was a 3.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the firm's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the sale, the chief technology officer now owns 5,139 shares of the company's stock, valued at $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 223,629 shares of company stock valued at $157,894,751. Company insiders own 13.71% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday. Morgan Stanley boosted their target price on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday. Stifel Nicolaus raised their price target on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday. Royal Bank of Canada reiterated an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research note on Thursday. Finally, Piper Sandler raised their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $696.45.
Read Our Latest Stock Report on META
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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