Cornerstone Enterprises LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,615 shares of the social networking company's stock after buying an additional 698 shares during the quarter. Meta Platforms makes up 2.3% of Cornerstone Enterprises LLC's holdings, making the stock its 13th biggest holding. Cornerstone Enterprises LLC's holdings in Meta Platforms were worth $3,873,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Nicolet Bankshares Inc. raised its stake in Meta Platforms by 1.0% during the fourth quarter. Nicolet Bankshares Inc. now owns 6,872 shares of the social networking company's stock worth $4,024,000 after buying an additional 68 shares during the last quarter. Ceeto Capital Group LLC grew its stake in Meta Platforms by 3.4% in the fourth quarter. Ceeto Capital Group LLC now owns 7,661 shares of the social networking company's stock valued at $4,486,000 after acquiring an additional 250 shares during the period. Oder Investment Management LLC increased its stake in Meta Platforms by 1.9% during the 4th quarter. Oder Investment Management LLC now owns 2,214 shares of the social networking company's stock valued at $1,296,000 after purchasing an additional 41 shares in the last quarter. Petros Family Wealth LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth about $775,000. Finally, Sterling Capital Management LLC raised its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Sterling Capital Management LLC now owns 114,192 shares of the social networking company's stock worth $66,861,000 after purchasing an additional 3,539 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now directly owns 51,793 shares of the company's stock, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 4,706 shares of the firm's 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 $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares of the company's stock, valued at $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 451,119 shares of company stock valued at $304,709,239 over the last ninety days. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
NASDAQ:META traded down $12.09 during trading hours on Monday, reaching $531.48. The company had a trading volume of 14,102,971 shares, compared to its average volume of 14,773,940. 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, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The firm has a market cap of $1.35 trillion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.42 and a beta of 1.28. The firm's 50 day moving average price is $628.35 and its 200-day moving average price is $609.40.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the business earned $5.33 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms's dividend payout ratio is 8.78%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on META shares. Truist Financial raised their price target 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. Morgan Stanley boosted their price objective on Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Oppenheimer increased their target price on Meta Platforms from $650.00 to $800.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Pivotal Research raised their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, Argus set a $775.00 target price on Meta Platforms in a research report on Tuesday, February 4th. Two equities research 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $692.93.
View Our Latest Analysis on Meta Platforms
Meta Platforms Profile
(
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.
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