Highview Capital Management LLC DE increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 145.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,378 shares of the social networking company's stock after buying an additional 3,187 shares during the period. Meta Platforms comprises about 1.0% of Highview Capital Management LLC DE's investment portfolio, making the stock its 29th largest position. Highview Capital Management LLC DE's holdings in Meta Platforms were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC boosted its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock worth $26,000 after purchasing an additional 75 shares during the period. Gilfoyle & Co LLC acquired a new position in Meta Platforms in the fourth quarter worth $39,000. Cranbrook Wealth Management LLC boosted its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after purchasing an additional 45 shares during the period. Beaird Harris Wealth Management LLC boosted its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after purchasing an additional 42 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new position in Meta Platforms in the second quarter worth $30,000. Institutional investors own 79.91% of the company's stock.
Analyst Ratings Changes
META has been the subject of several analyst reports. Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $435.00 to $535.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Evercore ISI boosted their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Bank of America boosted their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the company a "buy" rating in a report on Friday, February 2nd. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $420.00 to $535.00 and gave the company an "overweight" rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Meta Platforms from $405.00 to $527.00 and gave the company a "buy" rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $502.75.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Stock Down 2.2 %
NASDAQ:META traded down $11.26 on Friday, hitting $511.90. 11,984,535 shares of the company's stock traded hands, compared to its average volume of 12,512,066. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $207.13 and a 1 year high of $531.49. The firm has a 50-day moving average price of $491.44 and a 200-day moving average price of $392.56. The company has a market cap of $1.31 trillion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.20.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analysts' expectations of $39.12 billion. During the same quarter in the previous year, the business posted $3.00 EPS. The business's revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 20.03 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.39%. Meta Platforms's dividend payout ratio (DPR) is presently 13.42%.
Insider Buying and Selling at Meta Platforms
In related news, insider Jennifer Newstead sold 585 shares of the business's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares of the company's stock, valued at approximately $20,043,756. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Mark Zuckerberg sold 19,681 shares of the business's stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $381.77, for a total value of $7,513,615.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company's stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold a total of 1,460,035 shares of company stock valued at $691,937,607 in the last 90 days. 13.75% of the stock is currently owned by corporate insiders.
Meta Platforms Profile
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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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