MGO One Seven LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

MGO One Seven LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,980 shares of the social networking company's stock after buying an additional 4,101 shares during the period. Meta Platforms makes up 0.7% of MGO One Seven LLC's investment portfolio, making the stock its 18th biggest holding. MGO One Seven LLC's holdings in Meta Platforms were worth $18,139,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management bought a new position in Meta Platforms in the 4th quarter worth about $41,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $43,000. Cordant Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $59,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wolfe Research upped their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Barclays increased their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Raymond James reaffirmed a "strong-buy" rating and set a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. KeyCorp cut their price target on shares of Meta Platforms from $710.00 to $645.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Scotiabank lowered their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $676.55.

Meta Platforms Trading Up 2.6 %

Meta Platforms stock traded up $14.12 during trading hours on Friday, hitting $547.27. The company had a trading volume of 17,064,639 shares, compared to its average volume of 14,720,349. The firm has a market cap of $1.39 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.42 and a beta of 1.28. The company has a 50-day moving average price of $590.37 and a two-hundred day moving average price of $604.75. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 last year, the firm posted $5.33 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.38%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is currently 8.78%.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 22,366 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $648.68, for a total value of $14,508,376.88. Following the completion of the transaction, the chief executive officer now directly owns 580 shares in the company, valued at $376,234.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $627.59, for a total transaction of $259,194.67. Following the completion of the sale, the chief operating officer now directly owns 15,862 shares in the company, valued at $9,954,832.58. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 308,068 shares of company stock valued at $214,968,924. 13.71% of the stock is currently owned by corporate insiders.

About Meta Platforms

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.