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Strategic Financial Concepts LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 75.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,142 shares of the social networking company’s stock after acquiring an additional 920 shares during the period. Strategic Financial Concepts LLC’s holdings in Meta Platforms were worth $1,254,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Ballentine Partners LLC raised its holdings in Meta Platforms by 1.4% during the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after purchasing an additional 808 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after acquiring an additional 897 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Meta Platforms by 0.9% in the third 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 purchasing an additional 118,298 shares during the last quarter. LS Investment Advisors LLC increased its stake in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares during the last quarter. Finally, Apollon Financial LLC increased its stake in Meta Platforms by 11.1% in the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Price Performance
Shares of NASDAQ META opened at $683.62 on Friday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The firm has a fifty day simple moving average of $647.09 and a 200 day simple moving average of $591.24. The company has a market capitalization of $1.73 trillion, a PE ratio of 28.58, a P/E/G ratio of 1.42 and a beta of 1.20. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates 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 business earned $5.33 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is a boost 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%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.36%.
Insider Activity
In related news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Insiders sold 810,217 shares of company stock worth $523,808,864 over the last three months. 13.71% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research firms recently commented on META. Wedbush reiterated an “outperform” rating and issued a $770.00 target price (up from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Piper Sandler boosted their price target on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Argus set a $775.00 price target on Meta Platforms in a research report on Tuesday, February 4th. Arete Research raised Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.
Check Out Our Latest Stock Analysis 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.
See Also
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).
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