1,323 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Landing Point Financial Group LLC

Landing Point Financial Group LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,323 shares of the social networking company's stock, valued at approximately $775,000. Meta Platforms accounts for about 0.6% of Landing Point Financial Group LLC's portfolio, making the stock its 24th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Seelaus Asset Management LLC boosted its stake in Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after acquiring an additional 15 shares in the last quarter. Meredith Wealth Planning increased its holdings in shares of Meta Platforms by 0.8% in 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 period. Maiden Cove Capital LLC raised its position in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Riverwater Partners LLC boosted its stake in Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares during the period. Finally, Stephens Consulting LLC grew its position in Meta Platforms by 5.3% during the 4th 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. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Up 1.9 %

NASDAQ:META traded up $10.04 on Thursday, hitting $530.31. 6,774,816 shares of the stock were exchanged, compared to its average volume of 14,774,849. The stock has a fifty day moving average of $594.44 and a 200-day moving average of $605.11. The stock has a market cap of $1.34 trillion, a PE ratio of 22.16, a PEG ratio of 1.42 and a beta of 1.28. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91.

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 business earned $5.33 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.40%. Meta Platforms's payout ratio is 8.78%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $666.00, for a total value of $602,730.00. Following the completion of the transaction, the insider now directly owns 29,295 shares of the company's stock, valued at $19,510,470. This represents a 3.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. The trade was a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 343,068 shares of company stock worth $237,676,335 in the last 90 days. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on META. Cantor Fitzgerald lowered their price target on Meta Platforms from $790.00 to $624.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Citigroup cut their price target on shares of Meta Platforms from $780.00 to $655.00 and set a "buy" rating for the company in a report on Monday, April 14th. DA Davidson dropped their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Wednesday. Finally, Scotiabank dropped their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $676.55.

Meta Platforms Company 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.