Crux Wealth Advisors acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,851 shares of the social networking company's stock, valued at approximately $3,426,000. Meta Platforms makes up about 1.9% of Crux Wealth Advisors' portfolio, making the stock its 12th biggest position.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Howard Capital Management Group LLC grew its position in shares of Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock worth $946,000 after buying an additional 251 shares during the period. Principal Financial Group Inc. grew its holdings in Meta Platforms by 6.5% in the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company's stock worth $1,928,185,000 after purchasing an additional 204,412 shares during the period. SOA Wealth Advisors LLC. increased its stake in shares of Meta Platforms by 9.1% during the third quarter. SOA Wealth Advisors LLC. now owns 3,219 shares of the social networking company's stock valued at $1,842,000 after purchasing an additional 269 shares in the last quarter. Aldebaran Financial Inc. lifted its holdings in shares of Meta Platforms by 10.2% during the third quarter. Aldebaran Financial Inc. now owns 2,853 shares of the social networking company's stock valued at $1,633,000 after purchasing an additional 264 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd boosted its position in shares of Meta Platforms by 9.5% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 17,048 shares of the social networking company's stock worth $9,704,000 after purchasing an additional 1,480 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Piper Sandler lowered their price objective on Meta Platforms from $775.00 to $610.00 and set an "overweight" rating for the company in a research note on Thursday. BMO Capital Markets increased their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Mizuho upped their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. The Goldman Sachs Group decreased their price objective on shares of Meta Platforms from $765.00 to $685.00 and set a "buy" rating for the company in a report on Monday. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $692.93.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms Stock Down 2.2 %
META stock traded down $12.09 during trading on Monday, hitting $531.48. 14,102,971 shares of the company's stock traded hands, compared to its average volume of 14,773,940. The business has a fifty day simple moving average of $628.35 and a two-hundred day simple moving average of $609.40. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 22.22, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 quarter in the previous year, the company posted $5.33 earnings per share. Sell-side analysts anticipate 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 issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.
Insider Transactions at Meta Platforms
In other news, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 451,119 shares of company stock worth $304,709,239. Insiders own 13.71% of the company's stock.
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 Articles
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
