By otakuyassine3@gmail.com 
PCG Asset Management LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,479 shares of the social networking company’s stock, valued at approximately $866,000.
Other institutional investors have also recently made changes to their positions in the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at about $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $59,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Meta Platforms in the third quarter worth approximately $70,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Susquehanna raised their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Argus set a $775.00 price objective on shares of Meta Platforms in a report on Tuesday, February 4th. Cantor Fitzgerald raised their price objective on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company raised their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Two 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, the stock has an average rating of “Moderate Buy” and an average price target of $719.26.
View Our Latest Analysis on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $618.00, for a total transaction of $559,290.00. Following the completion of the transaction, the insider now directly owns 35,630 shares of the company’s stock, valued at $22,019,340. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the sale, the chief operating officer now directly owns 17,514 shares of the company’s stock, valued at $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 775,295 shares of company stock valued at $504,237,715 over the last three months. 13.71% of the stock is owned by company insiders.
Meta Platforms Trading Down 0.4 %
Shares of META opened at $625.66 on Friday. The company’s fifty day moving average is $656.39 and its 200 day moving average is $599.31. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The stock has a market capitalization of $1.59 trillion, a PE ratio of 26.16, a P/E/G ratio of 1.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 previous year, the firm earned $5.33 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.34%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s payout ratio is presently 8.78%.
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.
See Also
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