TigerOak Management L.L.C. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 593 shares of the social networking company's stock, valued at approximately $347,000.
A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its position in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company's stock valued at $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Jennison Associates LLC grew its position 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 buying an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock valued at $7,915,451,000 after buying an additional 118,298 shares during the last quarter. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Meta Platforms by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company's stock valued at $4,101,602,000 after buying an additional 186,728 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Trading Down 1.6 %
META traded down $11.22 during midday trading on Friday, hitting $683.62. The company's stock had a trading volume of 15,609,265 shares, compared to its average volume of 17,022,064. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.73 trillion, a P/E ratio of 28.58, a PEG ratio of 1.42 and a beta of 1.20. The firm has a 50-day moving average price of $647.09 and a two-hundred day moving average price of $590.57. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results 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 period in the previous year, the business posted $5.33 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a $0.525 dividend. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's payout ratio is 8.36%.
Insider Buying and Selling at Meta Platforms
In other news, CFO Susan J. Li sold 8,553 shares of the business's stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now owns 19,579 shares of the company's stock, valued at $11,018,473.83. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 810,217 shares of company stock worth $523,808,864 in the last 90 days. 13.71% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on META shares. JPMorgan Chase & Co. lifted their price objective 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. Raymond James reiterated a "strong-buy" rating and issued a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Morgan Stanley raised their target price on Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Cantor Fitzgerald raised their target price on Meta Platforms from $720.00 to $790.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Robert W. Baird raised their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.26.
Read Our Latest Research Report on Meta Platforms
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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