Accent Capital Management LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Accent Capital Management LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,442 shares of the social networking company's stock, valued at approximately $6,528,000. Meta Platforms makes up approximately 5.1% of Accent Capital Management LLC's portfolio, making the stock its 6th biggest position.

Several other institutional investors have also added to or reduced their stakes in the business. Stone House Investment Management LLC lifted its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock worth $26,000 after purchasing an additional 75 shares during the period. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock worth $33,000 after purchasing an additional 74 shares during the period. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $39,000. Finally, Cranbrook Wealth Management LLC lifted its holdings in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company's stock, valued at approximately $20,043,756. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company's stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 31,493 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $500.32, for a total value of $15,756,577.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 423,149 shares of company stock valued at $208,877,207. Corporate insiders own 13.71% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their target price on Meta Platforms from $540.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Rosenblatt Securities boosted their price target on Meta Platforms from $520.00 to $562.00 and gave the company a "buy" rating in a report on Thursday, April 25th. Roth Mkm boosted their price target on Meta Platforms from $500.00 to $510.00 and gave the company a "buy" rating in a report on Thursday, April 25th. UBS Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird decreased their price target on Meta Platforms from $525.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $510.41.

Meta Platforms Trading Up 0.5 %

Shares of Meta Platforms stock traded up $2.47 during trading hours on Monday, hitting $506.63. The company's stock had a trading volume of 11,245,824 shares, compared to its average volume of 16,643,670. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The firm has a fifty day moving average of $480.14 and a 200-day moving average of $444.30. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Research analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms's payout ratio is 11.49%.

Meta Platforms 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.

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