Procyon Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,184 shares of the social networking company's stock after buying an additional 5,779 shares during the period. Meta Platforms accounts for about 1.9% of Procyon Advisors LLC's portfolio, making the stock its 8th largest position. Procyon Advisors LLC's holdings in Meta Platforms were worth $29,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the stock. JDM Financial Group LLC purchased a new position in Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the fourth quarter valued at approximately $41,000. Halpern Financial Inc. bought a new position in Meta Platforms in the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms during the third quarter worth $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on META shares. Hsbc Global Res upgraded Meta Platforms to a "hold" rating in a research note on Thursday, October 24th. Bank of America lifted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Roth Mkm increased their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. UBS Group lifted their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Piper Sandler increased their price objective on Meta Platforms from $650.00 to $670.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $650.05.
Check Out Our Latest Report on Meta Platforms
Insider Transactions at Meta Platforms
In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the completion of the sale, the insider now directly owns 32,387 shares of the company's stock, valued at $18,612,808.90. The trade was a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 496,174 shares of company stock worth $301,408,499. 13.71% of the stock is currently owned by insiders.
Meta Platforms Trading Up 0.2 %
NASDAQ META traded up $1.47 on Friday, reaching $612.77. 17,239,131 shares of the company were exchanged, compared to its average volume of 10,812,479. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business's fifty day moving average price is $596.78 and its 200 day moving average price is $556.71. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms's dividend payout ratio (DPR) 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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