Veery Capital LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,230 shares of the social networking company’s stock after purchasing an additional 41 shares during the period. Veery Capital LLC’s holdings in Meta Platforms were worth $720,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of META. Charles Schwab Investment Management Inc. increased its holdings 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 period. LS Investment Advisors LLC increased its stake in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the period. Cutter & CO Brokerage Inc. raised its position in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Meta Platforms by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares during the period. Finally, M&G PLC lifted its stake in Meta Platforms by 14.6% during the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after purchasing an additional 91,773 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Susquehanna increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Robert W. Baird upped their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $650.05.
Insider Transactions at Meta Platforms
In other news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the transaction, the chief executive officer now owns 518,004 shares in the company, valued at $310,890,460.68. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the sale, the chief operating officer now directly owns 10,707 shares in the company, valued at approximately $6,147,531.12. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 495,269 shares of company stock valued at $300,888,396 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Stock Performance
Shares of META opened at $612.77 on Tuesday. The firm’s 50 day moving average price is $597.37 and its two-hundred day moving average price is $557.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a twelve month low of $370.95 and a twelve month high of $638.40. The firm has a market cap of $1.55 trillion, a P/E ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19.
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.
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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