1,802 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Permanent Capital Management LP

Permanent Capital Management LP bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,802 shares of the social networking company's stock, valued at approximately $1,055,000. Meta Platforms comprises 0.3% of Permanent Capital Management LP's portfolio, making the stock its 20th biggest position.

Several other institutional investors have also bought and sold shares of META. Seelaus Asset Management LLC lifted its holdings in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning lifted its holdings in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after buying an additional 15 shares in the last quarter. Stephens Consulting LLC lifted its holdings in Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock valued at $186,000 after buying an additional 16 shares in the last quarter. VeraBank N.A. lifted its holdings in Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock valued at $1,144,000 after buying an additional 16 shares in the last quarter. Finally, LGL Partners LLC lifted its holdings in Meta Platforms by 0.6% during the 4th quarter. LGL Partners LLC now owns 2,834 shares of the social networking company's stock valued at $1,659,000 after buying an additional 16 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 4.7 %

META stock opened at $590.64 on Friday. The firm's fifty day simple moving average is $657.96 and its 200-day simple moving average is $602.00. The company has a market capitalization 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. 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, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

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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, beating the consensus estimate 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 period in the prior year, the company posted $5.33 EPS. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase 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%. Meta Platforms's dividend payout ratio is 8.78%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on META shares. DA Davidson lifted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Jefferies Financial Group boosted their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a "buy" rating in a report on Monday, January 6th. Wedbush restated an "outperform" rating and issued a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $719.26.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $595.00, for a total transaction of $547,995.00. Following the completion of the transaction, the insider now directly owns 33,024 shares in the company, valued at approximately $19,649,280. This represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the company's stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the transaction, the chief technology officer now owns 5,139 shares of the company's stock, valued at $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 690,689 shares of company stock valued at $451,269,409. Corporate insiders own 13.71% of the company's stock.

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.

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