Sava Infond d.o.o. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,090 shares of the social networking company's stock, valued at approximately $21,131,000. Meta Platforms makes up 3.7% of Sava Infond d.o.o.'s portfolio, making the stock its 9th largest position.
Other institutional investors have also recently made changes to their positions in the company. JDM Financial Group LLC purchased a new stake in Meta Platforms in the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the third quarter worth $36,000. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter worth about $40,000. Avondale Wealth Management bought a new position in Meta Platforms in the 4th quarter worth about $41,000. Finally, Cordant Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity
In related news, insider Jennifer Newstead sold 902 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the completion of the sale, the insider now owns 27,488 shares of the company's stock, valued at $19,607,740.16. This trade represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $589.16, for a total value of $243,323.08. Following the completion of the transaction, the chief operating officer now directly owns 17,514 shares in the company, valued at $10,318,548.24. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 584,823 shares of company stock worth $386,274,777 over the last three months. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Stock Down 4.3 %
Shares of Meta Platforms stock traded down $25.84 during trading on Friday, hitting $576.74. The company's stock had a trading volume of 17,561,028 shares, compared to its average volume of 14,238,405. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a market capitalization of $1.46 trillion, a PE ratio of 24.11, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a fifty day simple moving average of $655.23 and a two-hundred day simple moving average of $609.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 last year, the business earned $5.33 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.36%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's payout ratio is 8.78%.
Analyst Ratings Changes
META has been the topic of several research analyst reports. Piper Sandler upped their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. KeyCorp cut their target price on shares of Meta Platforms from $750.00 to $710.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. increased their price objective on Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $718.31.
Get Our Latest Stock Report on META
About Meta Platforms
(
Free Report)
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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