MayTech Global Investments LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 100,596 shares of the social networking company's stock after purchasing an additional 1,503 shares during the quarter. Meta Platforms makes up about 6.9% of MayTech Global Investments LLC's investment portfolio, making the stock its 3rd biggest position. MayTech Global Investments LLC's holdings in Meta Platforms were worth $58,900,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth $45,000. Cordant Inc. acquired a new position in shares of Meta Platforms during the 4th quarter valued at $59,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms during the 4th quarter worth $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Meta Platforms Stock Performance
Shares of NASDAQ META opened at $639.43 on Tuesday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The stock has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.73, a PEG 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 stock's fifty day simple moving average is $568.53 and its 200 day simple moving average is $605.22.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 analysts' expectations of $41.45 billion. During the same period in the previous year, the company posted $4.71 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The company also recently disclosed 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 represents a $2.10 annualized dividend and a dividend yield of 0.33%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $592.52, for a total transaction of $545,710.92. Following the transaction, the insider now directly owns 25,656 shares of the company's stock, valued at $15,201,693.12. This represents a 3.47% 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, insider Christopher K. Cox sold 20,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,992 shares of company stock valued at $82,831,650. Insiders own 13.71% of the company's stock.
Analysts Set New Price Targets
META has been the topic of a number of recent research reports. Pivotal Research reduced their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group upped their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Royal Bank of Canada restated an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Evercore ISI raised their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $696.45.
Check Out Our Latest Stock Analysis on META
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.
Further Reading
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