Kera Capital Partners Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,063 shares of the social networking company’s stock, valued at approximately $622,000.
Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Jennison Associates LLC lifted its position in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% in the third 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 acquiring an additional 9,500,444 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
META stock opened at $612.77 on Tuesday. The company has a 50-day simple moving average of $597.37 and a 200 day simple moving average of $557.77. The company has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.
Insider Activity
In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the sale, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at approximately $310,890,460.68. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now owns 10,707 shares in the company, valued at approximately $6,147,531.12. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 495,269 shares of company stock worth $300,888,396 over the last 90 days. 13.71% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
META has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Monness Crespi & Hardt lifted their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Mizuho raised their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.
View Our Latest Stock Report on Meta Platforms
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.
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