Eagle Rock Investment Company LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,644 shares of the social networking company's stock after acquiring an additional 1,648 shares during the period. Meta Platforms accounts for approximately 3.0% of Eagle Rock Investment Company LLC's investment portfolio, making the stock its 8th biggest position. Eagle Rock Investment Company LLC's holdings in Meta Platforms were worth $17,942,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Lindenwold Advisors INC raised its holdings in shares of Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after acquiring an additional 17 shares in the last quarter. Insight Wealth Strategies LLC raised its position 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 worth $625,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC raised its holdings in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC lifted its position in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after buying an additional 18 shares during the last quarter. Finally, Alliance Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock valued at $1,595,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Price Performance
META stock traded up $1.47 during midday trading on Friday, reaching $612.77. The stock had a trading volume of 17,239,131 shares, compared to its average volume of 10,812,479. Meta Platforms, Inc. has a 52-week low of $370.95 and a 52-week high of $638.40. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company's fifty day simple moving average is $596.78 and its 200 day simple moving average is $556.71. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms's payout ratio is 9.42%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on META. Jefferies Financial Group upped their price target on Meta Platforms from $675.00 to $715.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Susquehanna increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a "positive" rating in a research report on Thursday, October 31st. Citigroup boosted their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Roth Mkm raised their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Two research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $650.05.
Get Our Latest Research Report on Meta Platforms
Insider Activity at Meta Platforms
In other news, CFO Susan J. Li sold 8,951 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the transaction, the chief financial officer now owns 51,591 shares of the company's stock, valued at $29,776,261.56. This represents a 14.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the transaction, the chief operating officer now owns 10,707 shares of the company's stock, valued at approximately $6,147,531.12. This represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 496,174 shares of company stock valued at $301,408,499. 13.71% of the stock is owned by company insiders.
Meta Platforms Profile
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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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