Mosaic Financial Group LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 65.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,038 shares of the social networking company’s stock after purchasing an additional 411 shares during the period. Mosaic Financial Group LLC’s holdings in Meta Platforms were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of META. Brighton Jones LLC lifted its position in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares during the last quarter. 1776 Wealth LLC boosted its position in shares of Meta Platforms by 137.2% in the 1st quarter. 1776 Wealth LLC now owns 1,167 shares of the social networking company’s stock worth $673,000 after purchasing an additional 675 shares in the last quarter. Smart Money Group LLC grew its stake in Meta Platforms by 20.4% during the 1st quarter. Smart Money Group LLC now owns 2,052 shares of the social networking company’s stock worth $1,182,000 after buying an additional 348 shares during the last quarter. Finally, OneAscent Financial Services LLC increased its position in Meta Platforms by 2.9% during the 1st quarter. OneAscent Financial Services LLC now owns 2,455 shares of the social networking company’s stock valued at $1,426,000 after buying an additional 69 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Up 0.9%
NASDAQ:META opened at $594.25 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The company’s fifty day moving average price is $697.66 and its 200-day moving average price is $704.84. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 26.25, a PEG ratio of 1.23 and a beta of 1.20.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.
Insider Activity
In related news, Director Robert M. Kimmitt sold 600 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the transaction, the director directly owned 7,347 shares in the company, valued at $4,476,894.45. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 517 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $604.23, for a total transaction of $312,386.91. Following the sale, the chief operating officer directly owned 15,302 shares in the company, valued at $9,245,927.46. This trade represents a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,959 shares of company stock valued at $26,906,323 over the last 90 days. Company insiders own 13.61% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Monness Crespi & Hardt lowered their price target on Meta Platforms from $860.00 to $808.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Scotiabank lifted their target price on shares of Meta Platforms from $675.00 to $685.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Pivotal Research boosted their target price on shares of Meta Platforms from $830.00 to $930.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Cantor Fitzgerald decreased their price target on shares of Meta Platforms from $830.00 to $720.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Mizuho lowered their price objective on shares of Meta Platforms from $925.00 to $815.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $825.05.
Read Our Latest Research Report on META
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.
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