Foster Dykema Cabot & Partners LLC Has $433,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Foster Dykema Cabot & Partners LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 640.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 740 shares of the social networking company’s stock after buying an additional 640 shares during the period. Foster Dykema Cabot & Partners LLC’s holdings in Meta Platforms were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of META. Seelaus Asset Management LLC increased its position in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after acquiring an additional 15 shares during the last quarter. Meredith Wealth Planning grew its stake in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after purchasing an additional 15 shares in the last quarter. Maiden Cove Capital LLC increased its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares during the last quarter. Riverwater Partners LLC raised its stake in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after purchasing an additional 15 shares in the last quarter. Finally, Stephens Consulting LLC boosted its holdings in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after buying an additional 16 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ:META opened at $502.31 on Thursday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $616.82 and its 200 day simple moving average is $607.81. The firm has a market capitalization of $1.27 trillion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $5.33 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.42%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $556.45, for a total value of $338,321.60. Following the sale, the chief operating officer now owns 5,014 shares in the company, valued at approximately $2,790,040.30. This trade represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 414,901 shares of company stock valued at $282,367,368. 13.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. Mizuho upped their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Truist Financial upped their target price on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Barclays lifted their price target on Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. DA Davidson dropped their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Argus set a $775.00 target price on Meta Platforms in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $686.83.

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.