Turim 21 Investimentos Ltda. Takes $468,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Turim 21 Investimentos Ltda. purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 799 shares of the social networking company's stock, valued at approximately $468,000. Meta Platforms makes up 0.1% of Turim 21 Investimentos Ltda.'s investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Howard Capital Management Group LLC grew its holdings in shares of Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock worth $946,000 after purchasing an additional 251 shares during the last quarter. Principal Financial Group Inc. grew its stake in 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 worth $1,928,185,000 after buying an additional 204,412 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Meta Platforms by 9.1% during the third quarter. SOA Wealth Advisors LLC. now owns 3,219 shares of the social networking company's stock worth $1,842,000 after buying an additional 269 shares in the last quarter. Aldebaran Financial Inc. boosted its stake in Meta Platforms by 10.2% in the third quarter. Aldebaran Financial Inc. now owns 2,853 shares of the social networking company's stock worth $1,633,000 after purchasing an additional 264 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its stake in shares of Meta Platforms by 9.5% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 17,048 shares of the social networking company's stock valued at $9,704,000 after buying an additional 1,480 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on META shares. Robert W. Baird boosted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Scotiabank decreased their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday. Stifel Nicolaus lowered their price objective on shares of Meta Platforms from $740.00 to $628.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group cut their target price on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $676.55.

Meta Platforms Price Performance

Meta Platforms stock traded up $14.12 during mid-day trading on Friday, reaching $547.27. 17,064,639 shares of the company were exchanged, compared to its average volume of 14,720,244. The company has a fifty day simple moving average of $590.37 and a 200-day simple moving average of $604.75. The firm has a market cap of $1.39 trillion, a PE ratio of 22.88, a PEG ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts' consensus estimates 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 company earned $5.33 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is 8.78%.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction on 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 directly owns 51,793 shares in the company, valued at $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the transaction, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 308,068 shares of company stock worth $214,968,924. Corporate insiders own 13.71% of the company's stock.

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.