Seaview Investment Managers LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,448 shares of the social networking company's stock after purchasing an additional 1,177 shares during the period. Meta Platforms accounts for approximately 3.1% of Seaview Investment Managers LLC's holdings, making the stock its 9th largest holding. Seaview Investment Managers LLC's holdings in Meta Platforms were worth $11,387,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new position in Meta Platforms in the 4th quarter valued at $40,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter valued at $41,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the fourth quarter valued at about $43,000. Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter worth about $59,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms during the 4th quarter worth about $59,000. Institutional investors own 79.91% of the company's stock.
Meta Platforms Stock Up 1.9 %
Shares of NASDAQ:META traded up $9.86 during trading on Thursday, hitting $530.13. 6,774,816 shares of the company were exchanged, compared to its average volume of 14,774,849. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.42 and a beta of 1.28. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm has a fifty day moving average price of $594.44 and a two-hundred day moving average price of $605.11.
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 analysts' consensus estimates 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 firm posted $5.33 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The firm also recently announced 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. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms's payout ratio is presently 8.78%.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $666.00, for a total transaction of $602,730.00. Following the transaction, the insider now owns 29,295 shares in the company, valued at $19,510,470. This represents a 3.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the firm's stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 343,068 shares of company stock worth $237,676,335. Company insiders own 13.71% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently commented on META. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Piper Sandler lowered their target price on shares of Meta Platforms from $775.00 to $610.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wolfe Research upped their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Robert W. Baird raised their price target on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, KeyCorp dropped their price objective on Meta Platforms from $710.00 to $645.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Two 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average price target of $676.55.
Get Our Latest Stock Report on META
Meta Platforms Profile
(
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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