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Apollon Financial LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,479 shares of the social networking company’s stock after buying an additional 148 shares during the period. Apollon Financial LLC’s holdings in Meta Platforms were worth $866,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Almanack Investment Partners LLC. increased its stake in shares of Meta Platforms by 4.5% in the fourth quarter. Almanack Investment Partners LLC. now owns 2,551 shares of the social networking company’s stock worth $1,493,000 after buying an additional 111 shares during the last quarter. TFG Advisers LLC increased its stake in shares of Meta Platforms by 2.7% in the fourth quarter. TFG Advisers LLC now owns 1,436 shares of the social networking company’s stock worth $841,000 after buying an additional 38 shares during the last quarter. Vest Financial LLC boosted its holdings in Meta Platforms by 12.3% in the fourth quarter. Vest Financial LLC now owns 9,386 shares of the social networking company’s stock worth $5,496,000 after purchasing an additional 1,027 shares during the period. Clientfirst Wealth Management LLC acquired a new position in Meta Platforms in the fourth quarter worth $208,000. Finally, Austin Asset Management Co Inc boosted its holdings in Meta Platforms by 6.7% in the fourth quarter. Austin Asset Management Co Inc now owns 1,726 shares of the social networking company’s stock worth $1,011,000 after purchasing an additional 109 shares during the period. Institutional investors own 79.91% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on META shares. JMP Securities reaffirmed a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Piper Sandler lifted their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Wolfe Research lifted their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Arete Research raised shares of Meta Platforms to a “hold” rating in a report on Friday, January 24th. Finally, Pivotal Research boosted their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $717.90.
Read Our Latest Report on Meta Platforms
Insiders Place Their Bets
In other news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 14,746 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.53, for a total value of $8,162,353.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 793,070 shares of company stock worth $504,185,108. Company insiders own 13.71% of the company’s stock.
Meta Platforms Price Performance
NASDAQ META opened at $728.56 on Friday. The stock’s 50-day moving average price is $636.47 and its two-hundred day moving average price is $580.80. 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 has a market cap of $1.85 trillion, a PE ratio of 30.46, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $729.00.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $5.33 EPS. On average, analysts predict that Meta Platforms, Inc. will post 26.66 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.29%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is presently 8.36%.
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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