CogentBlue Wealth Advisors LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,067 shares of the social networking company's stock, valued at approximately $625,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC raised its holdings in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Meta Platforms by 87,269.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock valued at $625,125,000 after purchasing an additional 1,066,437 shares in the last quarter. World Investment Advisors LLC increased its position in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock worth $520,662,000 after purchasing an additional 890,434 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Meta Platforms by 14.6% during the 3rd quarter. National Pension Service now owns 4,318,046 shares of the social networking company's stock worth $2,471,822,000 after purchasing an additional 550,852 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Wall Street Analyst Weigh In
META has been the subject of several recent research reports. JMP Securities reissued a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. KeyCorp boosted their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Robert W. Baird raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Monday, January 27th. Finally, DA Davidson increased their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $719.26.
Get Our Latest Research Report on Meta Platforms
Insider Activity
In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $577.49, for a total transaction of $238,503.37. Following the completion of the transaction, the chief operating officer now directly owns 19,166 shares of the company's stock, valued at approximately $11,068,173.34. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 812,422 shares of company stock worth $525,534,818. Company insiders own 13.71% of the company's stock.
Meta Platforms Stock Down 1.6 %
Shares of META stock opened at $657.50 on Wednesday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a fifty day moving average price of $648.73 and a 200 day moving average price of $594.06. The stock has a market cap of $1.67 trillion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the business posted $5.33 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.32%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms's payout ratio is presently 8.78%.
About Meta Platforms
(
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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