Meta Platforms, Inc. (NASDAQ:META) Holdings Boosted by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,439 shares of the social networking company's stock after purchasing an additional 1,254 shares during the quarter. Meta Platforms makes up 2.0% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 5th largest holding. EFG Asset Management North America Corp.'s holdings in Meta Platforms were worth $14,314,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Seelaus Asset Management LLC boosted its stake in Meta Platforms by 0.9% during 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 period. Meredith Wealth Planning boosted its position in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after acquiring an additional 15 shares during the last quarter. Maiden Cove Capital LLC boosted its position 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 valued at $282,000 after acquiring an additional 15 shares during the last quarter. Stephens Consulting LLC increased its position in shares of Meta Platforms by 5.3% in the fourth 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 last quarter. Finally, VeraBank N.A. increased its position in shares of Meta Platforms by 0.8% in 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. 79.91% of the stock is currently owned by institutional investors.

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Meta Platforms Stock Down 3.7 %

Shares of NASDAQ:META traded down $22.08 on Friday, hitting $580.50. 8,123,490 shares of the company traded hands, compared to its average volume of 14,206,572. The company has a market cap of $1.47 trillion, a PE ratio of 24.28, a PEG ratio of 1.42 and a beta of 1.23. The stock has a 50 day simple moving average of $655.95 and a 200-day simple moving average of $607.98. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. 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 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 period in the previous year, the firm earned $5.33 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.36%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is currently 8.78%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the sale, the insider now directly owns 31,182 shares in the company, valued at $19,552,673.10. The trade was a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $614.97, for a total transaction of $373,901.76. Following the transaction, the chief operating officer now owns 6,838 shares in the company, valued at approximately $4,205,164.86. This trade represents a 8.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 584,823 shares of company stock valued at $386,274,777. Corporate insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on META shares. Wells Fargo & Company increased their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. DA Davidson increased their target price on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Susquehanna lifted their price target on Meta Platforms from $675.00 to $800.00 and gave the stock a "positive" rating in a research note on Thursday, January 30th. Barclays upped their price objective on Meta Platforms from $630.00 to $705.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Robert W. Baird raised their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.