Navigoe LLC Purchases New Shares in Meta Platforms, Inc. (NASDAQ:META)

Navigoe LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,150 shares of the social networking company's stock, valued at approximately $1,258,000. Meta Platforms comprises approximately 1.2% of Navigoe LLC's holdings, making the stock its 16th largest position.

Other large investors have also recently made changes to their positions in the company. Triumph Capital Management grew its holdings in Meta Platforms by 6.0% during the fourth quarter. Triumph Capital Management now owns 1,846 shares of the social networking company's stock worth $1,081,000 after buying an additional 105 shares in the last quarter. WealthCollab LLC boosted its holdings in Meta Platforms by 8.3% during the 4th quarter. WealthCollab LLC now owns 1,709 shares of the social networking company's stock worth $1,001,000 after acquiring an additional 131 shares during the last quarter. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares in the last quarter. Palidye Holdings Caymans Ltd bought a new stake in Meta Platforms during the fourth quarter worth $144,533,000. Finally, Voleon Capital Management LP purchased a new position in Meta Platforms in the fourth quarter worth $28,358,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

NASDAQ META traded up $24.81 on Friday, reaching $597.02. 24,702,127 shares of the company's stock traded hands, compared to its average volume of 14,455,871. The stock has a market cap of $1.51 trillion, a PE ratio of 24.96, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a 50-day simple moving average of $575.29 and a 200 day simple moving average of $603.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms's payout ratio is 8.19%.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 406 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $696.23, for a total transaction of $9,033,584.25. Following the sale, the chief executive officer now directly owns 197,996 shares of the company's stock, valued at $137,850,755.08. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 237,017 shares of company stock worth $167,207,524. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

META has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Arete Research raised shares of Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Oppenheimer lifted their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday. Susquehanna lowered their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday. Finally, KeyCorp increased their price target on Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $696.45.

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.