Riversedge Advisors LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 7.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,460 shares of the social networking company’s stock after buying an additional 98 shares during the period. Riversedge Advisors LLC’s holdings in Meta Platforms were worth $855,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of META. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% during 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 purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC grew its position in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC increased its stake in shares of Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the last quarter. Geode Capital Management LLC raised its holdings in Meta Platforms by 1.5% in the third 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 acquiring an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Truist Financial lifted their target price on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $650.05.
Insider Activity at Meta Platforms
In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $2,918,698.12. Following the completion of the transaction, the chief technology officer now directly owns 8,565 shares in the company, valued at approximately $4,943,375.40. This trade represents a 37.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 495,269 shares of company stock valued at $300,888,396. 13.71% of the stock is owned by insiders.
Meta Platforms Trading Up 0.2 %
Shares of Meta Platforms stock opened at $612.77 on Tuesday. The business has a fifty day simple moving average of $597.37 and a two-hundred day simple moving average of $557.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $370.95 and a 1 year high of $638.40.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s payout ratio is currently 9.42%.
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.
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