Jaffetilchin Investment Partners LLC Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Jaffetilchin Investment Partners LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,767 shares of the social networking company’s stock after acquiring an additional 945 shares during the period. Meta Platforms makes up 1.4% of Jaffetilchin Investment Partners LLC’s portfolio, making the stock its 18th biggest position. Jaffetilchin Investment Partners LLC’s holdings in Meta Platforms were worth $19,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Family Office Research LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $498,000. Texas Capital Bancshares Inc TX lifted its position in Meta Platforms by 44.1% in the 4th quarter. Texas Capital Bancshares Inc TX now owns 1,429 shares of the social networking company’s stock valued at $837,000 after acquiring an additional 437 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in Meta Platforms by 39.9% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,882 shares of the social networking company’s stock valued at $8,128,000 after purchasing an additional 3,962 shares during the last quarter. Summit Financial Wealth Advisors LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth $169,000. Finally, Strategy Capital LLC raised its stake in shares of Meta Platforms by 84.0% in the fourth quarter. Strategy Capital LLC now owns 231,201 shares of the social networking company’s stock worth $135,370,000 after purchasing an additional 105,521 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $546.29 on Friday. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The firm has a market capitalization of $1.38 trillion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The company has a fifty day simple moving average of $631.56 and a two-hundred day simple moving average of $609.28. 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) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $5.33 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s payout ratio is 8.78%.

Insider Activity

In related news, insider Jennifer Newstead sold 902 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the transaction, the insider now directly owns 27,488 shares in the company, valued at approximately $19,607,740.16. This represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares in the company, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 487,453 shares of company stock valued at $326,680,904. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on META. Oppenheimer lifted their price objective on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Bank of America reduced their price target on shares of Meta Platforms from $765.00 to $640.00 and set a “buy” rating for the company in a research note on Wednesday. Wedbush restated an “outperform” rating and set a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Pivotal Research lifted their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Argus set a $775.00 price target on Meta Platforms in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $704.62.

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.