2,150 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Navigoe LLC

Navigoe LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,150 shares of the social networking company’s stock, valued at approximately $1,258,000. Meta Platforms accounts for about 1.2% of Navigoe LLC’s portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valley Financial Group Inc. increased its stake in Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after acquiring an additional 14 shares during the last quarter. Seelaus Asset Management LLC boosted its holdings in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning boosted its holdings in shares of Meta Platforms by 0.8% in the 4th 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 stake in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC lifted its position 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 buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of research reports. Stifel Nicolaus dropped their target price on shares of Meta Platforms from $740.00 to $628.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. JMP Securities reissued a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Wedbush decreased their target price on shares of Meta Platforms from $770.00 to $680.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets boosted their price objective on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given 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 an average rating of “Moderate Buy” and a consensus price target of $681.95.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 12,975 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $696.39, for a total transaction of $9,035,660.25. Following the completion of the transaction, the chief executive officer now directly owns 210,971 shares of the company’s stock, valued at $146,918,094.69. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,463 shares of company stock worth $175,403,314. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META opened at $554.44 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The stock has a fifty day simple moving average of $581.11 and a two-hundred day simple moving average of $604.05. Meta Platforms, Inc. has a 12-month low of $427.11 and a 12-month high of $740.91.

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, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company posted $5.33 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

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

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.