Raab & Moskowitz Asset Management LLC Purchases 55 Shares of Meta Platforms, Inc. (NASDAQ:META)

Raab & Moskowitz Asset Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 599 shares of the social networking company’s stock after purchasing an additional 55 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Meta Platforms were worth $351,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. JDM Financial Group LLC purchased a new position in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the fourth quarter worth about $41,000. Cordant Inc. purchased a new position in Meta Platforms during the fourth quarter worth about $59,000. Finally, Reston Wealth Management LLC purchased a new position in Meta Platforms during the third quarter worth about $61,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 19,668 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $734.49, for a total value of $14,445,949.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the completion of the transaction, the insider now owns 37,790 shares in the company, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 770,701 shares of company stock worth $495,357,621 in the last ninety days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several recent analyst reports. Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a research report on Thursday, January 30th. Arete Research upgraded Meta Platforms to a “hold” rating in a report on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Barclays upped their price objective on Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Roth Mkm upped their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $717.90.

Meta Platforms Stock Performance

Shares of META opened at $715.91 on Wednesday. The business’s fifty day simple moving average is $643.13 and its two-hundred day simple moving average is $587.57. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market cap of $1.81 trillion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 1.46 and a beta of 1.20.

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

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is 8.36%.

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.