1,675 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,675 shares of the social networking company's stock, valued at approximately $980,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Proficio Capital Partners LLC lifted its holdings in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $2,243,603,000. Vanguard Group Inc. increased its holdings in Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Meta Platforms by 87,269.8% during 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 acquiring an additional 1,066,437 shares during the last quarter. Finally, World Investment Advisors LLC lifted its holdings in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after buying an additional 890,434 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on META. Robert W. Baird upped their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Wolfe Research boosted their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Truist Financial lifted their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, DA Davidson increased their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $718.31.

Meta Platforms Price Performance

META stock traded down $25.84 on Friday, hitting $576.74. 17,561,028 shares of the company's stock traded hands, compared to its average volume of 14,238,405. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The stock has a fifty day moving average of $655.23 and a 200-day moving average of $609.21. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.11, 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 earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the firm earned $5.33 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

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

Insider Activity

In related news, insider Christopher K. Cox sold 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the sale, the insider now owns 308,686 shares of the company's stock, valued at $209,199,589.06. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,060 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 value of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 584,823 shares of company stock valued at $386,274,777. 13.71% of the stock is owned by insiders.

Meta Platforms 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.