Saxon Interests Inc. Acquires 210 Shares of Meta Platforms, Inc. (NASDAQ:META)

Saxon Interests Inc. increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,083 shares of the social networking company’s stock after purchasing an additional 210 shares during the period. Meta Platforms comprises about 1.6% of Saxon Interests Inc.’s portfolio, making the stock its 12th largest holding. Saxon Interests Inc.’s holdings in Meta Platforms were worth $3,562,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. JDM Financial Group LLC purchased a new position in shares of Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the 3rd quarter worth approximately $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the 4th quarter valued at $41,000. Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter worth $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on META shares. Bank of America upped their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group increased their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Mizuho upped their price objective on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Piper Sandler boosted their price target on Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Meta Platforms Trading Up 0.2 %

NASDAQ META opened at $612.77 on Friday. The stock has a market cap of $1.55 trillion, a PE ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $370.95 and a 12 month high of $638.40. The company’s 50-day moving average price is $596.78 and its 200-day moving average price is $556.71. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total transaction of $22,133,083.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 496,174 shares of company stock valued at $301,408,499. 13.71% of the stock is currently owned by corporate insiders.

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.