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Apollon Wealth Management LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 14.4% in the 4th quarter, HoldingsChannel reports. The firm owned 51,053 shares of the social networking company’s stock after acquiring an additional 6,429 shares during the period. Apollon Wealth Management LLC’s holdings in Meta Platforms were worth $29,892,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in META. AMF Tjanstepension AB grew its stake in Meta Platforms by 32.5% during the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock worth $261,680,000 after purchasing an additional 112,047 shares during the period. Creative Planning grew its stake in Meta Platforms by 2.1% during the third quarter. Creative Planning now owns 716,847 shares of the social networking company’s stock worth $410,352,000 after purchasing an additional 14,754 shares during the period. Stillwater Capital Advisors LLC acquired a new stake in Meta Platforms during the third quarter worth approximately $423,000. Roberts Wealth Advisors LLC grew its stake in Meta Platforms by 15.2% during the third quarter. Roberts Wealth Advisors LLC now owns 703 shares of the social networking company’s stock worth $417,000 after purchasing an additional 93 shares during the period. Finally, Safeguard Financial LLC grew its stake in Meta Platforms by 51.9% during the third quarter. Safeguard Financial LLC now owns 673 shares of the social networking company’s stock worth $385,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.
Insider Activity
In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the completion of the transaction, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 18,644 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.55, for a total value of $10,320,386.20. Following the completion of the transaction, the chief financial officer now owns 46,769 shares of the company’s stock, valued at approximately $25,888,979.95. This trade represents a 28.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 793,070 shares of company stock worth $504,185,108. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Stock Performance
NASDAQ:META opened at $728.56 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a fifty day simple moving average of $636.47 and a two-hundred day simple moving average of $580.80. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $729.00. The company has a market capitalization of $1.85 trillion, a P/E ratio of 30.46, a P/E/G ratio of 1.46 and a beta of 1.20.
Meta Platforms (NASDAQ:META – Get Free Report) last released its 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 earned $5.33 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.
Meta Platforms Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.36%.
Analyst Upgrades and Downgrades
META has been the subject of several recent analyst reports. DA Davidson raised their target price on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised their price objective on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Piper Sandler raised their price objective on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research note on Thursday, January 30th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $717.90.
Read Our Latest Analysis on Meta Platforms
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.
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