Runnymede Capital Advisors Inc. Takes $600,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Runnymede Capital Advisors Inc. bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,025 shares of the social networking company's stock, valued at approximately $600,000.

Other large investors also recently modified their holdings of the company. Howard Capital Management Group LLC boosted its stake in Meta Platforms by 17.9% during the 3rd 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 last quarter. Principal Financial Group Inc. boosted its position in shares of Meta Platforms by 6.5% during the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company's stock valued at $1,928,185,000 after buying an additional 204,412 shares during the last quarter. United Bank grew its holdings in Meta Platforms by 22.2% during the third quarter. United Bank now owns 5,569 shares of the social networking company's stock worth $3,188,000 after buying an additional 1,011 shares in the last quarter. Primecap Management Co. CA raised its position in Meta Platforms by 2.4% in the 3rd quarter. Primecap Management Co. CA now owns 723,400 shares of the social networking company's stock valued at $414,103,000 after buying an additional 16,950 shares during the last quarter. Finally, Overbrook Management Corp lifted its stake in Meta Platforms by 39.4% during the 3rd quarter. Overbrook Management Corp now owns 27,082 shares of the social networking company's stock valued at $15,503,000 after acquiring an additional 7,654 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

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Meta Platforms Price Performance

META traded down $8.40 during trading on Thursday, reaching $602.58. The stock had a trading volume of 10,412,777 shares, compared to its average volume of 13,822,863. The business has a 50-day moving average of $656.12 and a 200-day moving average of $608.02. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market cap of $1.53 trillion, a PE ratio of 25.19, a PEG ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the firm posted $5.33 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

Analysts Set New Price Targets

Several brokerages have recently commented on META. Mizuho increased their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Arete Research upgraded Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Truist Financial increased their price target on Meta Platforms from $700.00 to $770.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Raymond James restated a "strong-buy" rating and issued a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Finally, Robert W. Baird boosted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus target price of $718.31.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $243,323.08. Following the completion of the sale, the chief operating officer now directly owns 17,514 shares in the company, valued at approximately $10,318,548.24. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 586,213 shares of company stock worth $387,084,349. 13.71% of the stock is currently owned by insiders.

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.