Legacy Financial Group LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 392 shares of the social networking company's stock, valued at approximately $230,000.
Several other hedge funds have also added to or reduced their stakes in META. Lindenwold Advisors INC raised its position in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock worth $3,388,000 after purchasing an additional 17 shares during the period. Insight Wealth Strategies LLC lifted its stake in shares of Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company's stock valued at $625,000 after acquiring an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company's stock valued at $1,569,000 after acquiring an additional 17 shares during the period. Central Valley Advisors LLC grew its position in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock worth $3,271,000 after acquiring an additional 18 shares during the last quarter. Finally, Cherrydale Wealth Management LLC increased its stake in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock worth $2,199,000 after purchasing an additional 18 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Meta Platforms
In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $673.57, for a total value of $24,195,307.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 661,312 shares of company stock valued at $407,377,422. 13.71% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages recently commented on META. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday. JMP Securities restated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a report on Monday. Raymond James reiterated a "strong-buy" rating and issued a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a research report on Thursday. Finally, Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the company a "buy" rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $698.98.
Read Our Latest Research Report on Meta Platforms
Meta Platforms Trading Up 1.9 %
META stock traded up $12.93 during midday trading on Thursday, reaching $689.42. The company's stock had a trading volume of 20,861,034 shares, compared to its average volume of 15,245,674. The firm has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $387.10 and a 1 year high of $710.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a fifty day simple moving average of $608.52 and a two-hundred day simple moving average of $563.58.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same period in the prior year, the company posted $5.33 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current year.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms's dividend payout ratio is 9.42%.
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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