By otakuyassine3@gmail.com 
Intrinsic Value Partners LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,949 shares of the social networking company’s stock after selling 250 shares during the period. Meta Platforms comprises about 5.3% of Intrinsic Value Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Intrinsic Value Partners LLC’s holdings in Meta Platforms were worth $5,240,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the 4th quarter valued at about $41,000. Cordant Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth about $59,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Meta Platforms during the third quarter worth approximately $61,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Price Performance
Shares of META opened at $683.62 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $647.09 and its 200 day simple moving average is $590.57. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a market cap of $1.73 trillion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.44 and a beta of 1.20.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $5.33 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This is a positive change 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 0.31%. Meta Platforms’s payout ratio is presently 8.36%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Truist Financial boosted their target price on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Susquehanna upped their price target on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday, January 30th. Citigroup lifted their price objective on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, DA Davidson upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $717.90.
Check Out Our Latest Stock Report on Meta Platforms
Insider Activity at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This represents a 14.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total transaction of $511,596.50. Following the sale, the insider now owns 37,790 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 810,217 shares of company stock worth $523,808,864. Company insiders own 13.71% of the company’s stock.
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.
See Also
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