BluePointe Capital Management LLC Has $1.95 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

BluePointe Capital Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,326 shares of the social networking company's stock after acquiring an additional 656 shares during the period. Meta Platforms accounts for 1.1% of BluePointe Capital Management LLC's portfolio, making the stock its 27th largest position. BluePointe Capital Management LLC's holdings in Meta Platforms were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Seelaus Asset Management LLC raised its position in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning grew its stake in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC raised its holdings in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after acquiring an additional 15 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock worth $186,000 after purchasing an additional 16 shares during the period. Finally, VeraBank N.A. boosted its holdings in shares of Meta Platforms by 0.8% during the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock worth $1,144,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

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Meta Platforms Price Performance

NASDAQ META traded down $15.33 on Wednesday, reaching $610.98. 12,592,026 shares of the stock traded hands, compared to its average volume of 13,819,907. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 1.42 and a beta of 1.23. The firm's fifty day simple moving average is $656.24 and its 200 day simple moving average is $608.00. 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 (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 business posted $5.33 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is presently 8.78%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on META. Benchmark upgraded Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 target price on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased 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. JMP Securities restated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Bank of America upped their price objective on Meta Platforms from $710.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Mizuho raised their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two 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 company. According to MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $718.31.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm's 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 sale, the insider now directly owns 32,915 shares of the company's stock, valued at approximately $19,477,780.40. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 2,311 shares of the company's stock in a transaction that occurred on Friday, December 27th. The stock was 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. Insiders sold a total of 585,605 shares of company stock valued at $386,710,448 over the last quarter. Company insiders own 13.71% of the company's stock.

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.