Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Eaton Financial Holdings Company LLC

Eaton Financial Holdings Company LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,757 shares of the social networking company’s stock after purchasing an additional 93 shares during the quarter. Meta Platforms makes up about 0.8% of Eaton Financial Holdings Company LLC’s investment portfolio, making the stock its 25th largest holding. Eaton Financial Holdings Company LLC’s holdings in Meta Platforms were worth $2,199,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the fourth quarter worth $41,000. Cordant Inc. bought a new stake in Meta Platforms in the fourth quarter valued at $59,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Meta Platforms during the third quarter valued at $70,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.3 %

Shares of Meta Platforms stock opened at $584.06 on Thursday. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The company has a market cap of $1.48 trillion, a P/E ratio of 24.42, a P/E/G ratio of 1.42 and a beta of 1.23. 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 stock has a 50-day moving average price of $656.27 and a 200 day moving average price of $604.69.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 last year, the business earned $5.33 earnings per share. As a group, analysts expect 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 will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the transaction, the chief operating officer now directly owns 7,446 shares of the company’s stock, valued at $4,523,445. This represents a 7.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 632,023 shares of company stock valued at $414,734,884. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Piper Sandler lifted their price target on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Susquehanna lifted their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday, January 30th. Finally, UBS Group increased their price target on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $718.31.

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.