Janney Montgomery Scott LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 412,799 shares of the social networking company’s stock after purchasing an additional 753 shares during the period. Meta Platforms comprises approximately 0.7% of Janney Montgomery Scott LLC’s holdings, making the stock its 23rd largest position. Janney Montgomery Scott LLC’s holdings in Meta Platforms were worth $241,698,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in META. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter worth approximately $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the 4th quarter worth $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Stock Performance
NASDAQ:META opened at $647.49 on Friday. The stock has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $385.66 and a 1 year high of $652.00. The firm has a 50 day moving average of $601.93 and a 200-day moving average of $560.33. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is presently 9.42%.
Insiders Place Their Bets
In related news, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares in the company, valued at $21,416,908.60. The trade was a 15.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 568,016 shares of company stock valued at $346,031,180. Insiders own 13.71% of the company’s stock.
Wall Street Analyst Weigh In
META has been the topic of several analyst reports. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. UBS Group upped their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Susquehanna upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. 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 issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $654.20.
Get Our Latest Stock Report on META
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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