Audent Global Asset Management LLC Grows Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Audent Global Asset Management LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 90.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,403 shares of the social networking company's stock after purchasing an additional 2,571 shares during the period. Meta Platforms makes up 2.1% of Audent Global Asset Management LLC's investment portfolio, making the stock its 17th biggest holding. Audent Global Asset Management LLC's holdings in Meta Platforms were worth $3,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Meta Platforms in the fourth quarter valued at $19,949,512,000. Proficio Capital Partners LLC increased its position in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter worth about $2,243,603,000. Northern Trust Corp lifted its position 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 acquiring an additional 2,787,832 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Meta Platforms during the 4th quarter valued at about $1,162,918,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total transaction of $328,506.97. Following the sale, the chief operating officer now directly owns 10,438 shares of the company's stock, valued at approximately $6,632,409.58. This trade represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,664 shares of company stock valued at $35,484,670 in the last three months. 13.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

META has been the subject of several analyst reports. Moffett Nathanson increased their price objective on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Price Performance

Shares of META stock traded down $2.49 during trading on Friday, hitting $642.56. The company had a trading volume of 6,830,466 shares, compared to its average volume of 14,440,261. The stock's 50-day moving average is $578.25 and its two-hundred day moving average is $610.43. The stock has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth 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. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the firm posted $4.71 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio is presently 8.19%.

Meta Platforms Company Profile

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.