400 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Sagace Wealth Management LLC

Sagace Wealth Management LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 400 shares of the social networking company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently added to or reduced their stakes in META. Fiera Capital Corp lifted its holdings in Meta Platforms by 35.1% during the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock valued at $13,751,000 after purchasing an additional 7,089 shares in the last quarter. Fairfield Financial Advisors LTD purchased a new position in Meta Platforms during the second quarter valued at $352,000. Angeles Investment Advisors LLC lifted its holdings in Meta Platforms by 31.5% during the second quarter. Angeles Investment Advisors LLC now owns 4,819 shares of the social networking company’s stock valued at $2,430,000 after purchasing an additional 1,154 shares in the last quarter. Capital Wealth Planning LLC lifted its holdings in Meta Platforms by 2.8% during the second quarter. Capital Wealth Planning LLC now owns 11,972 shares of the social networking company’s stock valued at $6,037,000 after purchasing an additional 330 shares in the last quarter. Finally, Waycross Partners LLC lifted its holdings in Meta Platforms by 8.5% during the second quarter. Waycross Partners LLC now owns 64,066 shares of the social networking company’s stock valued at $32,303,000 after purchasing an additional 5,012 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

NASDAQ:META opened at $611.30 on Friday. The firm has a market cap of $1.54 trillion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average is $595.92 and its two-hundred day moving average is $555.25. Meta Platforms, Inc. has a 12-month low of $358.61 and a 12-month high of $638.40.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for 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%. Research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the sale, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This trade represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 496,174 shares of company stock worth $301,408,499 in the last three months. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on META. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Truist Financial raised their price objective on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Two equities 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

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.