Bornite Capital Management LP grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 50.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the social networking company's stock after purchasing an additional 10,000 shares during the period. Meta Platforms comprises 2.4% of Bornite Capital Management LP's portfolio, making the stock its 18th largest holding. Bornite Capital Management LP's holdings in Meta Platforms were worth $17,565,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Seelaus Asset Management LLC raised its stake in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning boosted its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares during the last quarter. Maiden Cove Capital LLC grew its holdings in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares during the period. Stephens Consulting LLC raised its holdings 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 valued at $186,000 after buying an additional 16 shares during the period. Finally, VeraBank N.A. boosted its holdings in Meta Platforms by 0.8% in the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock valued at $1,144,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of the company's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the sale, the chief technology officer now directly owns 5,139 shares of the company's stock, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the transaction, the insider now directly owns 30,261 shares in the company, valued at approximately $17,268,742.26. This trade represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 549,113 shares of company stock valued at $364,668,246. Corporate insiders own 13.71% of the company's stock.
Meta Platforms Trading Down 5.1 %
NASDAQ:META traded down $26.89 during trading hours on Friday, reaching $504.73. 38,506,424 shares of the company were exchanged, compared to its average volume of 14,428,284. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a 50 day simple moving average of $648.15 and a 200 day simple moving average of $609.75.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 quarter last year, the company posted $5.33 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a $0.525 dividend. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.42%. Meta Platforms's payout ratio is 8.78%.
Analyst Ratings Changes
META has been the subject of several research reports. Morgan Stanley raised their target price on Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Wolfe Research increased 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. Citigroup raised their price target on Meta Platforms from $753.00 to $780.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Pivotal Research increased their target price on Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada increased their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $718.55.
Check Out Our Latest Analysis on Meta Platforms
About Meta Platforms
(
Free Report)
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.
Featured Stories
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
