Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,258 shares of the social networking company's stock after buying an additional 5,094 shares during the quarter. Meta Platforms comprises about 0.7% of Concentric Capital Strategies LP's holdings, making the stock its 19th largest position. Concentric Capital Strategies LP's holdings in Meta Platforms were worth $15,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the 4th quarter worth about $40,000. Avondale Wealth Management acquired a new position in Meta Platforms in the 4th quarter worth about $41,000. 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. bought a new position in Meta Platforms during the fourth quarter worth $45,000. Finally, Cordant Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial lifted their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Raymond James decreased their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Argus set a $775.00 price objective on Meta Platforms in a research note on Tuesday, February 4th. Jefferies Financial Group reduced their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 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 assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $696.45.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the business's stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 902 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $713.32, for a total value of $643,414.64. Following the completion of the sale, the insider now directly owns 27,488 shares of the company's stock, valued at $19,607,740.16. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,749 shares of company stock worth $148,089,532 in the last 90 days. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

META stock opened at $587.31 on Wednesday. The firm has a market cap of $1.49 trillion, a PE ratio of 24.55, a P/E/G ratio of 1.42 and a beta of 1.24. 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 50-day moving average price is $572.38 and its two-hundred day moving average price is $604.03. 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 announced its quarterly earnings data 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 company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.71 EPS. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is currently 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.

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