By otakuyassine3@gmail.com 
Quantum Private Wealth LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,262 shares of the social networking company’s stock after purchasing an additional 1,064 shares during the quarter. Meta Platforms comprises approximately 8.5% of Quantum Private Wealth LLC’s holdings, making the stock its 3rd largest position. Quantum Private Wealth LLC’s holdings in Meta Platforms were worth $26,501,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in META. Geode Capital Management LLC raised its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Jennison Associates LLC raised its stake in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after buying an additional 118,298 shares during the last quarter. International Assets Investment Management LLC raised its stake in Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after buying an additional 186,728 shares during the last quarter. 79.91% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the transaction, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $232,424.01. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 810,217 shares of company stock valued at $523,808,864 over the last 90 days. Insiders own 13.71% of the company’s stock.
Meta Platforms Stock Performance
Shares of NASDAQ:META opened at $683.62 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm’s 50 day simple moving average is $647.09 and its 200-day simple moving average is $591.24. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The firm has a market cap of $1.73 trillion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 business earned $5.33 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, March 14th. Meta Platforms’s payout ratio is presently 8.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on META shares. Susquehanna upped their price objective on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research note on Thursday, January 30th. Oppenheimer upped their price objective on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Mizuho upped their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Bank of America upped their target price on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company upped their target price 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $719.26.
Read Our Latest Research Report on Meta Platforms
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.
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