23,621 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Intellus Advisors LLC

Intellus Advisors LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,621 shares of the social networking company's stock, valued at approximately $13,831,000. Meta Platforms makes up about 2.4% of Intellus Advisors LLC's holdings, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Forefront Wealth Management Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $2,580,000. Sei Investments Co. increased its stake in Meta Platforms by 2.5% in the 4th quarter. Sei Investments Co. now owns 1,614,962 shares of the social networking company's stock worth $945,581,000 after acquiring an additional 39,479 shares during the last quarter. American Century Companies Inc. increased its stake in Meta Platforms by 0.4% in the 4th quarter. American Century Companies Inc. now owns 6,268,104 shares of the social networking company's stock worth $3,670,038,000 after acquiring an additional 26,396 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $600,000. Finally, Mizuho Securities USA LLC boosted its position in shares of Meta Platforms by 45.8% during the 4th quarter. Mizuho Securities USA LLC now owns 206,615 shares of the social networking company's stock valued at $120,975,000 after acquiring an additional 64,947 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

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Analysts Set New Price Targets

META has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Citigroup boosted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Bank of America upped their target price on shares of Meta Platforms from $710.00 to $765.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Mizuho lifted their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Argus set a $775.00 price objective 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 assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $718.31.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares of the company's stock, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 2,311 shares of Meta Platforms stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $600.21, for a total transaction of $1,387,085.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 587,134 shares of company stock worth $387,661,862. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Down 1.4 %

Shares of META stock traded down $8.40 on Thursday, hitting $602.58. The stock had a trading volume of 10,412,777 shares, compared to its average volume of 13,822,886. 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, Inc. has a one year low of $414.50 and a one year high of $740.91. The business has a 50 day moving average price of $656.12 and a 200 day moving average price of $608.02. The company has a market cap of $1.53 trillion, a PE ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating 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 last year, the company posted $5.33 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

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.