American Money Management LLC Has $6.95 Million Position in Meta Platforms, Inc. (NASDAQ:META)

American Money Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 141.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,868 shares of the social networking company's stock after buying an additional 6,952 shares during the period. Meta Platforms comprises about 1.4% of American Money Management LLC's investment portfolio, making the stock its 24th largest position. American Money Management LLC's holdings in Meta Platforms were worth $6,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JDM Financial Group LLC bought a new position in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the third quarter valued at $36,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the 4th quarter worth about $41,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the 4th quarter worth about $43,000. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

META has been the topic of several research reports. Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a report on Monday, January 27th. Raymond James restated a "strong-buy" rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. KeyCorp dropped their target price on Meta Platforms from $750.00 to $710.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Finally, Susquehanna increased their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a "positive" rating in a 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 issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $718.55.

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Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total transaction of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares in the company, valued at approximately $19,477,780.40. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were 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. Over the last quarter, insiders have sold 584,410 shares of company stock worth $386,031,454. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 0.1 %

META stock traded down $0.38 during mid-day trading on Monday, reaching $576.36. 21,103,853 shares of the stock traded hands, compared to its average volume of 14,265,824. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The stock's fifty day moving average is $655.23 and its 200-day moving average is $609.90. The company has a market cap of $1.46 trillion, a P/E ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results 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 firm posted $5.33 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is 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.