Nilsine Partners LLC Raises Position in Meta Platforms, Inc. $META

Nilsine Partners LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,714 shares of the social networking company’s stock after buying an additional 1,289 shares during the quarter. Meta Platforms accounts for approximately 1.0% of Nilsine Partners LLC’s holdings, making the stock its 19th largest holding. Nilsine Partners LLC’s holdings in Meta Platforms were worth $11,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westchester Capital Management Inc. purchased a new stake in shares of Meta Platforms during the third quarter valued at approximately $26,000. Bare Financial Services Inc purchased a new position in shares of Meta Platforms in the second quarter valued at $30,000. Knuff & Co LLC purchased a new position in shares of Meta Platforms in the second quarter valued at $44,000. PMV Capital Advisers LLC grew its holdings in Meta Platforms by 26.3% during the 4th quarter. PMV Capital Advisers LLC now owns 96 shares of the social networking company’s stock valued at $63,000 after purchasing an additional 20 shares in the last quarter. Finally, Evergreen Private Wealth LLC grew its holdings in Meta Platforms by 64.8% during the 3rd quarter. Evergreen Private Wealth LLC now owns 89 shares of the social networking company’s stock valued at $65,000 after purchasing an additional 35 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on shares of Meta Platforms from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Bank of America lifted their target price on Meta Platforms from $810.00 to $885.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Citigroup reiterated an “outperform” rating on shares of Meta Platforms in a research note on Thursday, January 29th. Monness Crespi & Hardt increased their price target on Meta Platforms from $808.00 to $890.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Wedbush raised their price objective on Meta Platforms from $880.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $843.57.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 926 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $605.38, for a total transaction of $560,581.88. Following the completion of the sale, the chief operating officer owned 13,335 shares in the company, valued at $8,072,742.30. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $632.02, for a total transaction of $366,571.60. Following the sale, the director directly owned 4,427 shares in the company, valued at $2,797,952.54. This trade represents a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 160,931 shares of company stock valued at $102,997,526. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $573.02 on Tuesday. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 24.38, a PEG ratio of 0.89 and a beta of 1.31. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The company’s 50-day simple moving average is $635.80 and its 200-day simple moving average is $657.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.60 and a current ratio of 2.60.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating the consensus estimate of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. During the same period in the previous year, the company earned $8.02 earnings per share. Meta Platforms’s quarterly revenue was up 23.8% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, March 16th. Meta Platforms’s payout ratio is 8.94%.

Meta Platforms Company Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.