Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,000 shares of the social networking company's stock after buying an additional 25,000 shares during the quarter. Meta Platforms accounts for about 6.8% of Pacific Heights Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding. Pacific Heights Asset Management LLC's holdings in Meta Platforms were worth $105,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Shengqi Capital Hong Kong Ltd bought a new stake in shares of Meta Platforms in the fourth quarter worth $5,949,000. Greenwoods Asset Management Hong Kong Ltd. lifted its position in shares of Meta Platforms by 1.8% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 878,964 shares of the social networking company's stock worth $514,642,000 after purchasing an additional 15,443 shares in the last quarter. Foundation Wealth Management LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $200,000. Barden Capital Management Inc. bought a new stake in shares of Meta Platforms in the fourth quarter worth $841,000. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Meta Platforms by 3.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 32,486 shares of the social networking company's stock worth $19,021,000 after purchasing an additional 1,201 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Up 2.3 %

META stock opened at $619.56 on Thursday. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The firm has a 50-day moving average price of $658.13 and a 200-day moving average price of $602.08.

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Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the company earned $5.33 earnings per share. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $622.24, for a total value of $22,351,483.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $609.00, for a total transaction of $370,272.00. Following the completion of the transaction, the chief operating officer now owns 8,054 shares of the company's stock, valued at approximately $4,904,886. This trade represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 725,689 shares of company stock worth $473,072,897 in the last quarter. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. DA Davidson boosted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Benchmark raised shares of Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 price target on the stock in a research report on Thursday, January 30th. Raymond James reaffirmed a "strong-buy" rating and set a $800.00 price target (up from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Cantor Fitzgerald upped their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Piper Sandler upped their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $719.26.

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.

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