Naples Money Management LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Naples Money Management LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,236 shares of the social networking company's stock, valued at approximately $3,269,000. Meta Platforms accounts for approximately 3.1% of Naples Money Management LLC's portfolio, making the stock its 8th biggest position.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company's stock worth $159,841,000 after acquiring an additional 32,423 shares during the period. Bank of Stockton increased its holdings in Meta Platforms by 9.2% in the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company's stock valued at $1,819,000 after buying an additional 400 shares during the last quarter. Signify Wealth purchased a new position in Meta Platforms in the fourth quarter valued at $228,000. Investment Research & Advisory Group Inc. increased its holdings in Meta Platforms by 1.5% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company's stock valued at $3,880,000 after buying an additional 164 shares during the last quarter. Finally, Keel Point LLC increased its holdings in Meta Platforms by 6.3% in the third quarter. Keel Point LLC now owns 6,690 shares of the social networking company's stock valued at $2,008,000 after buying an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Sanford C. Bernstein increased their target price on Meta Platforms from $535.00 to $590.00 and gave the company an "outperform" rating in a report on Thursday. UBS Group increased their target price on Meta Platforms from $530.00 to $610.00 and gave the company a "buy" rating in a report on Tuesday. Oppenheimer raised their price objective on Meta Platforms from $525.00 to $585.00 and gave the stock an "outperform" rating in a report on Monday, April 8th. Roth Mkm reaffirmed a "buy" rating and set a $500.00 price objective on shares of Meta Platforms in a report on Monday, March 18th. Finally, Robert W. Baird raised their price objective on Meta Platforms from $385.00 to $525.00 and gave the stock an "outperform" rating in a report on Friday, February 2nd. One 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $519.53.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $20.73 during trading on Friday, hitting $481.07. 25,192,554 shares of the company were exchanged, compared to its average volume of 17,158,529. The firm has a 50 day moving average price of $494.29 and a 200 day moving average price of $397.43. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 1.26 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $207.13 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly 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. The company had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. Meta Platforms's revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.42%. Meta Platforms's dividend payout ratio (DPR) is presently 13.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 9,000 shares of the business's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $388.90, for a total value of $3,500,100.00. Following the completion of the transaction, the chief operating officer now directly owns 79,935 shares in the company, valued at approximately $31,086,721.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 19,681 shares of the company's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $384.54, for a total transaction of $7,568,131.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 9,000 shares of the company's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $388.90, for a total value of $3,500,100.00. Following the sale, the chief operating officer now owns 79,935 shares of the company's stock, valued at $31,086,721.50. The disclosure for this sale can be found here. In the last three months, insiders sold 1,421,182 shares of company stock worth $677,574,550. Insiders own 13.75% of the company's stock.

About Meta Platforms

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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