Haven Private LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 612 shares of the social networking company's stock, valued at approximately $358,000.
Other hedge funds have also modified their holdings of the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $70,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on META shares. Scotiabank boosted their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the company a "sector perform" rating in a research report on Thursday, January 30th. Oppenheimer upped their target price on Meta Platforms from $650.00 to $800.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Raymond James reissued a "strong-buy" rating and issued a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $719.26.
View Our Latest Stock Report on Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $622.24, for a total transaction of $22,351,483.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $629.56, for a total value of $260,008.28. Following the sale, the chief operating officer now owns 18,340 shares in the company, valued at $11,546,130.40. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 726,610 shares of company stock worth $473,620,892 over the last ninety days. Corporate insiders own 13.71% of the company's stock.
META traded down $28.92 during trading on Thursday, hitting $590.64. 16,401,585 shares of the company's stock were exchanged, compared to its average volume of 13,671,526. The stock has a 50 day moving average price of $657.96 and a 200 day moving average price of $602.00. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. 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 firm has a market cap of $1.50 trillion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the firm posted $5.33 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given 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 0.36%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.78%.
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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