Moment Partners LLC Buys Shares of 1,657 Meta Platforms, Inc. (NASDAQ:META)

Moment Partners LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,657 shares of the social networking company's stock, valued at approximately $970,000.

Several other large investors have also made changes to their positions in META. Seelaus Asset Management LLC raised its position in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after buying an additional 15 shares during the last quarter. Meredith Wealth Planning boosted its position in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after purchasing an additional 15 shares during the last quarter. Maiden Cove Capital LLC grew its stake in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the period. Stephens Consulting LLC increased its holdings in Meta Platforms by 5.3% during the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock worth $186,000 after buying an additional 16 shares during the last quarter. Finally, VeraBank N.A. grew its position in shares of Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock valued at $1,144,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Remove Ads

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total value of $535,542.80. Following the completion of the transaction, the insider now owns 32,915 shares of the company's stock, valued at $19,477,780.40. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the sale, the insider now directly owns 308,686 shares in the company, valued at $209,199,589.06. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 584,823 shares of company stock valued at $386,274,777 in the last 90 days. Corporate insiders own 13.71% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on META shares. Cantor Fitzgerald raised their target price on Meta Platforms from $720.00 to $790.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. DA Davidson upped their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Benchmark upgraded Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 price target for the company in a research report on Thursday, January 30th. Truist Financial raised their target price on Meta Platforms from $700.00 to $770.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group boosted their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Two equities research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $718.31.

Meta Platforms Trading Down 4.3 %

Shares of META traded down $25.84 during trading hours on Friday, reaching $576.74. 17,561,028 shares of the company traded hands, compared to its average volume of 14,238,405. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company's fifty day moving average price is $655.23 and its two-hundred day moving average price is $609.21. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company posted $5.33 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is 8.78%.

Meta Platforms Company Profile

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.