Endeavor Private Wealth Inc. purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 500 shares of the social networking company's stock, valued at approximately $293,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Ballentine Partners LLC lifted its stake in Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock valued at $34,087,000 after buying an additional 808 shares in the last quarter. UMB Bank n.a. boosted its stake in Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after purchasing an additional 897 shares during the period. Charles Schwab Investment Management Inc. raised its position in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock valued at $7,915,451,000 after buying an additional 118,298 shares during the last quarter. LS Investment Advisors LLC boosted its position in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company's stock worth $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. raised its holdings in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company's stock valued at $5,573,000 after purchasing an additional 65 shares during the last quarter. 79.91% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Meta Platforms to a "hold" rating in a research note on Thursday, October 24th. Barclays upped their target price on Meta Platforms from $550.00 to $630.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. JMP Securities raised their price target on Meta Platforms from $660.00 to $750.00 and gave the company a "market outperform" rating in a research note on Thursday, January 2nd. The Goldman Sachs Group upped their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Finally, Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $654.20.
Check Out Our Latest Research Report on META
Meta Platforms Price Performance
Shares of NASDAQ:META traded up $11.04 during midday trading on Friday, hitting $647.49. The stock had a trading volume of 19,039,689 shares, compared to its average volume of 9,840,293. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company's 50-day moving average price is $601.93 and its 200-day moving average price is $560.51. Meta Platforms, Inc. has a fifty-two week low of $385.66 and a fifty-two week high of $652.00.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms's dividend payout ratio is presently 9.42%.
Insiders Place Their Bets
In other news, CTO Andrew Bosworth sold 14,746 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.53, for a total transaction of $8,162,353.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 568,016 shares of company stock valued at $346,031,180. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Company Profile
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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.
Further Reading
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