Meta Platforms, Inc. (NASDAQ:META) Holdings Boosted by Jmac Enterprises LLC

Jmac Enterprises LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,492 shares of the social networking company’s stock after acquiring an additional 53 shares during the quarter. Jmac Enterprises LLC’s holdings in Meta Platforms were worth $874,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the 4th quarter worth about $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $59,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $715.91 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.81 trillion, a PE ratio of 29.93, a P/E/G ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a 50-day moving average price of $643.13 and a two-hundred day moving average price of $587.57.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the firm earned $5.33 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms’s payout ratio is presently 8.36%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 770,701 shares of company stock worth $495,357,621. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a research report on Thursday, January 30th. Robert W. Baird increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wedbush reissued an “outperform” rating and set a $770.00 price target (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Monday, January 27th. Finally, Roth Mkm increased their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $717.90.

About Meta Platforms

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.