Inkwell Capital LLC Buys Shares of 6,201 Meta Platforms, Inc. (NASDAQ:META)

Inkwell Capital LLC 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,201 shares of the social networking company's stock, valued at approximately $3,631,000. Meta Platforms makes up approximately 3.9% of Inkwell Capital LLC's investment portfolio, making the stock its 11th largest position.

Several other hedge funds have also recently modified their holdings of the stock. United Bank boosted its position in Meta Platforms by 11.1% during the fourth quarter. United Bank now owns 6,186 shares of the social networking company's stock worth $3,622,000 after acquiring an additional 617 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Meta Platforms by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 989,825 shares of the social networking company's stock valued at $604,506,000 after purchasing an additional 8,767 shares in the last quarter. Martin Currie Ltd. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $66,767,000. Schroder Investment Management Group lifted its position in Meta Platforms by 12.8% during the fourth quarter. Schroder Investment Management Group now owns 4,309,806 shares of the social networking company's stock worth $2,523,435,000 after buying an additional 490,577 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Meta Platforms by 27.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock worth $5,211,967,000 after buying an additional 1,892,509 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently commented on META. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Arete Research raised shares of Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company increased their price objective on Meta Platforms from $685.00 to $752.00 and gave the stock an "overweight" rating in a research 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 given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $718.55.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, the chief operating officer now owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 584,410 shares of company stock valued at $386,031,454. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of META stock traded down $0.38 during trading hours on Monday, hitting $576.36. The stock had a trading volume of 21,103,853 shares, compared to its average volume of 14,265,834. The stock's 50 day moving average is $655.23 and its 200 day moving average is $609.90. The firm has a market capitalization of $1.46 trillion, a PE ratio of 24.10, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month 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.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company posted $5.33 EPS. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.36%. Meta Platforms's dividend payout ratio is currently 8.78%.

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.