Good Life Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,985 shares of the social networking company's stock after acquiring an additional 416 shares during the period. Good Life Advisors LLC's holdings in Meta Platforms were worth $7,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC lifted its stake in Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Meta Platforms by 87,269.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock worth $625,125,000 after purchasing an additional 1,066,437 shares during the last quarter. World Investment Advisors LLC lifted its position in Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after purchasing an additional 890,434 shares during the period. Geode Capital Management LLC boosted its holdings in Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Finally, National Pension Service boosted its holdings in Meta Platforms by 14.6% in the third quarter. National Pension Service now owns 4,318,046 shares of the social networking company's stock valued at $2,471,822,000 after purchasing an additional 550,852 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity at Meta Platforms
In related news, CEO Mark Zuckerberg sold 55,589 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the firm's stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares in the company, valued at $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 812,422 shares of company stock worth $525,534,818. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Down 1.6 %
Shares of META opened at $657.50 on Wednesday. The company's 50-day moving average price is $648.73 and its 200 day moving average price is $594.06. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.67 trillion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 company posted $5.33 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms's payout ratio is presently 8.78%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Pivotal Research lifted their price objective on Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and set a $811.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Barclays upped their price objective on Meta Platforms from $630.00 to $705.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. KeyCorp lifted their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Susquehanna boosted their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a "positive" rating in a research note on Thursday, January 30th. Two 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 stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $719.26.
Read Our Latest Report on Meta Platforms
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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