Napean Trading & Investment Co Singapore PTE Ltd boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,440 shares of the social networking company's stock after purchasing an additional 3,139 shares during the quarter. Meta Platforms comprises approximately 6.0% of Napean Trading & Investment Co Singapore PTE Ltd's portfolio, making the stock its 3rd biggest position. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Meta Platforms were worth $24,264,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. JDM Financial Group LLC acquired a new position in Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the third quarter worth approximately $36,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $40,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the 4th quarter valued at $41,000. Finally, Cordant Inc. acquired a new stake in Meta Platforms during the 4th quarter worth $59,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on META. JMP Securities restated a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Susquehanna boosted their price target on Meta Platforms from $675.00 to $800.00 and gave the company a "positive" rating in a research report on Thursday, January 30th. Arete Research raised Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, Scotiabank increased their price target on Meta Platforms from $583.00 to $627.00 and gave the stock a "sector perform" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $718.31.
Read Our Latest Stock Analysis on Meta Platforms
Insider Buying and Selling at Meta Platforms
In other news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the transaction, the insider now owns 31,182 shares of the company's stock, valued at approximately $19,552,673.10. This trade represents a 2.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the sale, the chief financial officer now directly owns 51,793 shares of the company's stock, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 584,823 shares of company stock valued at $386,274,777. Company insiders own 13.71% of the company's stock.
Meta Platforms Trading Down 3.6 %
NASDAQ:META traded down $21.71 during mid-day trading on Friday, reaching $580.87. The company's stock had a trading volume of 8,123,490 shares, compared to its average volume of 14,206,373. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company's fifty day simple moving average is $655.95 and its two-hundred day simple moving average is $607.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $1.47 trillion, a P/E ratio of 24.28, a P/E/G ratio of 1.42 and a beta of 1.23.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 in the previous year, the firm earned $5.33 EPS. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is presently 8.78%.
Meta Platforms Company Profile
(
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.
See Also
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
