Relyea Zuckerberg Hanson LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Relyea Zuckerberg Hanson LLC raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,768 shares of the social networking company's stock after acquiring an additional 664 shares during the quarter. Relyea Zuckerberg Hanson LLC's holdings in Meta Platforms were worth $3,963,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock worth $27,470,870,000 after purchasing an additional 698,884 shares during the period. Jennison Associates LLC raised its holdings in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company's stock valued at $8,266,531,000 after acquiring an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock worth $7,915,451,000 after acquiring an additional 118,298 shares during the last quarter. International Assets Investment Management LLC lifted its position in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company's stock worth $4,101,602,000 after acquiring an additional 186,728 shares during the period. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on META shares. JMP Securities lifted their price target on Meta Platforms from $660.00 to $750.00 and gave the stock a "market outperform" rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Scotiabank lowered their price target on shares of Meta Platforms from $585.00 to $583.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 31st. Roth Mkm boosted their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Truist Financial raised their target price on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Two 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $650.05.

Meta Platforms Stock Up 0.2 %

NASDAQ META traded up $1.47 on Friday, hitting $612.77. 17,239,131 shares of the company were exchanged, compared to its average volume of 10,812,479. Meta Platforms, Inc. has a 12 month low of $370.95 and a 12 month high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.55 trillion, a PE ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. The stock has a fifty day moving average of $596.78 and a 200-day moving average of $557.04.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio is 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the sale, the insider now directly owns 38,695 shares of the company's stock, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock valued at $301,408,499 over the last ninety days. 13.71% of the stock is owned by company insiders.

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.