Client 1ST Advisory Group LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,847 shares of the social networking company’s stock, valued at approximately $1,081,000.
A number of other institutional investors have also recently bought and sold shares of META. Lindenwold Advisors INC grew its stake in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after buying an additional 17 shares during the last quarter. Insight Wealth Strategies LLC grew its position in shares of Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after purchasing an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its stake in shares of Meta Platforms by 0.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC lifted its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the last quarter. Finally, Cherrydale Wealth Management LLC boosted its stake in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 531,190 shares of company stock worth $322,938,501. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Up 0.6 %
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.
Analysts Set New Price Targets
A number of research analysts have recently commented on META shares. Piper Sandler upped their price target on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Bank of America increased their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Scotiabank reduced their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt boosted their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $651.27.
View Our Latest Stock Report on META
Meta Platforms Company 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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