Myriad Asset Management US LP Makes New $6.70 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Myriad Asset Management US LP acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,447 shares of the social networking company's stock, valued at approximately $6,702,000. Meta Platforms accounts for about 4.5% of Myriad Asset Management US LP's holdings, making the stock its 5th biggest position.

Other institutional investors also recently bought and sold shares of the company. AMF Tjanstepension AB boosted its stake in shares of Meta Platforms by 32.5% in the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company's stock valued at $261,680,000 after purchasing an additional 112,047 shares during the period. Howard Capital Management Group LLC boosted its stake in shares of Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock valued at $946,000 after purchasing an additional 251 shares during the period. Leo Wealth LLC boosted its stake in shares of Meta Platforms by 17.5% in the third quarter. Leo Wealth LLC now owns 7,642 shares of the social networking company's stock valued at $4,375,000 after purchasing an additional 1,137 shares during the period. Waldron Private Wealth LLC boosted its stake in shares of Meta Platforms by 2.0% in the third quarter. Waldron Private Wealth LLC now owns 26,964 shares of the social networking company's stock valued at $15,435,000 after purchasing an additional 526 shares during the period. Finally, RBA Wealth Management LLC purchased a new position in shares of Meta Platforms in the third quarter valued at $4,870,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the completion of the transaction, the insider now owns 37,790 shares in the company, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the transaction, the chief operating officer now owns 19,579 shares of the company's stock, valued at approximately $11,018,473.83. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 810,217 shares of company stock worth $523,808,864. Corporate insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Oppenheimer increased their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Wolfe Research increased their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Two equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $719.26.

Meta Platforms Price Performance

Meta Platforms stock traded down $11.22 during trading hours on Friday, hitting $683.62. 15,609,265 shares of the company traded hands, compared to its average volume of 17,022,064. The firm has a market cap of $1.73 trillion, a P/E ratio of 28.58, a P/E/G ratio of 1.42 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm's 50-day simple moving average is $647.09 and its two-hundred day simple moving average is $590.57. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating 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 quarter in the previous year, the business posted $5.33 EPS. As a group, analysts forecast 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 will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is 8.36%.

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.