Meta Platforms, Inc. (NASDAQ:META) is American Century Companies Inc.'s 6th Largest Position

American Century Companies Inc. increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,268,104 shares of the social networking company's stock after acquiring an additional 26,396 shares during the period. Meta Platforms makes up about 2.1% of American Century Companies Inc.'s portfolio, making the stock its 6th biggest holding. American Century Companies Inc. owned about 0.25% of Meta Platforms worth $3,670,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the third quarter valued at $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $40,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $41,000. Finally, Cordant Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Trading Down 1.4 %

Shares of Meta Platforms stock traded down $8.40 during trading hours on Thursday, hitting $602.58. The company's stock had a trading volume of 10,412,777 shares, compared to its average volume of 13,822,863. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The firm has a fifty day moving average of $656.12 and a 200-day moving average of $608.02.

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Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating 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 period in the previous year, the company earned $5.33 EPS. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is presently 8.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on META shares. Royal Bank of Canada raised their target price on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Citigroup raised their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. JMP Securities reiterated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Wedbush reissued an "outperform" rating and set a $770.00 price target (up from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $718.31.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the completion of the sale, the chief operating officer now directly owns 6,838 shares of the company's stock, valued at approximately $4,205,164.86. The trade was a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 2,311 shares of the business's stock in a transaction on Friday, December 27th. The shares were sold at an average price of $600.21, for a total value of $1,387,085.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 586,213 shares of company stock worth $387,084,349. 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.