Gerber Kawasaki Wealth & Investment Management grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,514 shares of the social networking company's stock after buying an additional 859 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Meta Platforms were worth $6,742,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter worth $41,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $43,000. Cordant Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter worth $59,000. Finally, Conquis Financial LLC purchased a new position in Meta Platforms during the fourth quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the completion of the transaction, the insider now owns 27,498 shares of the company's stock, valued at approximately $13,525,441.26. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $627.59, for a total transaction of $259,194.67. Following the completion of the transaction, the chief operating officer now directly owns 15,862 shares in the company, valued at approximately $9,954,832.58. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,068 shares of company stock worth $214,968,924. 13.71% of the stock is owned by insiders.
Meta Platforms Price Performance
Shares of NASDAQ META opened at $547.27 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.42 and a beta of 1.28. The company's 50-day moving average price is $587.00 and its 200 day moving average price is $604.44. Meta Platforms, Inc. has a 52 week low of $427.11 and a 52 week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results 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 period in the previous year, the business earned $5.33 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a dividend of $0.525 per share. 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. This represents a $2.10 annualized dividend and a dividend yield of 0.38%. Meta Platforms's dividend payout ratio is presently 8.78%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on META shares. Arete Research upgraded Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Mizuho boosted their price target 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. Guggenheim lowered their price objective on shares of Meta Platforms from $750.00 to $675.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler cut their target price on shares of Meta Platforms from $775.00 to $610.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company raised their price target on Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $679.02.
View 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.
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