BIT Capital GmbH Purchases 23,818 Shares of Meta Platforms, Inc. (NASDAQ:META)

BIT Capital GmbH raised its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 44.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,553 shares of the social networking company's stock after acquiring an additional 23,818 shares during the period. Meta Platforms makes up 3.6% of BIT Capital GmbH's portfolio, making the stock its 9th biggest holding. BIT Capital GmbH's holdings in Meta Platforms were worth $45,408,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $2,243,603,000. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Meta Platforms by 87,269.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock worth $625,125,000 after purchasing an additional 1,066,437 shares during the period. Finally, World Investment Advisors LLC boosted its stake in Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock worth $520,662,000 after buying an additional 890,434 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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Meta Platforms Trading Down 4.3 %

Shares of Meta Platforms stock traded down $25.84 during trading on Friday, reaching $576.74. 17,561,028 shares of the company were exchanged, compared to its average volume of 14,238,405. The business has a 50-day moving average price of $655.23 and a 200-day moving average price of $609.21. The firm has a market capitalization 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 quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the firm posted $5.33 earnings per share. Sell-side analysts anticipate 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 given a $0.525 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is currently 8.78%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of the business's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $589.16, for a total value of $243,323.08. Following the sale, the chief operating officer now directly owns 17,514 shares in the company, valued at $10,318,548.24. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total value of $535,542.80. Following the transaction, the insider now owns 32,915 shares of the company's stock, valued at approximately $19,477,780.40. The trade was a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 584,823 shares of company stock valued at $386,274,777. 13.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Pivotal Research raised their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Argus set a $775.00 price objective on Meta Platforms in a research note on Tuesday, February 4th. Wedbush restated an "outperform" rating and set a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price target on Meta Platforms from $688.00 to $765.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $718.31.

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.