NEOS Investment Management LLC Purchases 4,747 Shares of Meta Platforms, Inc. (NASDAQ:META)

NEOS Investment Management LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,315 shares of the social networking company's stock after acquiring an additional 4,747 shares during the period. Meta Platforms comprises about 2.4% of NEOS Investment Management LLC's portfolio, making the stock its 7th largest position. NEOS Investment Management LLC's holdings in Meta Platforms were worth $102,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its position in Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Meta Platforms in the 4th quarter valued at $2,243,603,000. Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Meta Platforms by 87,269.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock valued at $625,125,000 after purchasing an additional 1,066,437 shares during the period. Finally, World Investment Advisors LLC lifted its stake in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock worth $520,662,000 after buying an additional 890,434 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Bank of America upped their target price on Meta Platforms from $710.00 to $765.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. DA Davidson boosted their price target on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Finally, Royal Bank of Canada lifted their target price on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $718.31.

Meta Platforms Price Performance

Shares of META stock traded down $25.84 on Friday, reaching $576.74. The company had a trading volume of 17,561,028 shares, compared to its average volume of 14,238,405. The business's 50-day moving average is $655.23 and its 200 day moving average is $609.21. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. 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 stock has a market capitalization of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data 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 period in the prior year, the business posted $5.33 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total value of $535,542.80. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $589.16, for a total value of $243,323.08. Following the transaction, the chief operating officer now directly owns 17,514 shares of the company's stock, valued at approximately $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,823 shares of company stock worth $386,274,777 in the last 90 days. Insiders own 13.71% of the company's stock.

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.