Anchor Pointe Wealth Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,029 shares of the social networking company's stock, valued at approximately $608,000.
Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Meta Platforms in the 4th quarter valued at about $19,949,512,000. Proficio Capital Partners LLC increased its holdings in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $2,243,603,000. Northern Trust Corp increased its holdings in Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Meta Platforms in the 4th quarter valued at about $1,162,918,000. Institutional investors own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,628 shares of company stock valued at $34,826,386. 13.61% of the stock is currently owned by company insiders.
Meta Platforms Price Performance
NASDAQ META traded up $1.47 on Thursday, reaching $645.05. 8,853,767 shares of the company's stock traded hands, compared to its average volume of 14,469,198. The stock has a 50-day simple moving average of $577.74 and a 200 day simple moving average of $610.01. The stock has a market cap of $1.62 trillion, a PE ratio of 26.97, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.71 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.33%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Analyst Upgrades and Downgrades
Several research firms have commented on META. Evercore ISI raised their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Rosenblatt Securities increased their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Pivotal Research cut their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup lifted their price target on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.
Get Our Latest Report on Meta Platforms
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
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
