Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,088,235 shares of the social networking company's stock after buying an additional 3,900 shares during the quarter. Meta Platforms comprises 2.1% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 6th largest position. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Meta Platforms worth $1,222,682,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the 4th quarter worth approximately $40,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the 4th quarter valued at about $41,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $43,000. Cordant Inc. purchased a new position in shares of Meta Platforms in the fourth quarter worth $59,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms during the 4th quarter valued at about $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 2.6 %

Shares of NASDAQ:META traded up $14.12 during midday trading on Friday, reaching $547.27. 17,064,639 shares of the company's stock were exchanged, compared to its average volume of 14,447,610. The firm's 50 day simple moving average is $587.00 and its two-hundred day simple moving average is $604.44. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a fifty-two week low of $427.11 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating 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 quarter in the previous year, the business posted $5.33 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.38%. 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 presently 8.78%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Royal Bank of Canada lifted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Guggenheim decreased their target price on Meta Platforms from $750.00 to $675.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Scotiabank reduced their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Finally, Pivotal Research increased their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" 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 given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $679.02.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total value of $453,012.27. Following the completion of the sale, the insider now directly owns 27,498 shares of the company's stock, valued at $13,525,441.26. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at $2,744,547.96. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,068 shares of company stock worth $214,968,924 in the last 90 days. Corporate insiders own 13.71% of the company's stock.

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.