Meta Platforms, Inc. (NASDAQ:META) Position Increased by Tsfg LLC

Tsfg LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,526 shares of the social networking company’s stock after acquiring an additional 194 shares during the quarter. Tsfg LLC’s holdings in Meta Platforms were worth $894,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in META. PFW Advisors LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $1,107,000. Signet Financial Management LLC boosted its position in shares of Meta Platforms by 4.1% in the fourth quarter. Signet Financial Management LLC now owns 16,480 shares of the social networking company’s stock worth $9,649,000 after buying an additional 647 shares during the period. Catalyst Private Wealth LLC grew its holdings in shares of Meta Platforms by 7.9% during the fourth quarter. Catalyst Private Wealth LLC now owns 8,763 shares of the social networking company’s stock valued at $5,131,000 after buying an additional 640 shares in the last quarter. Peddock Capital Advisors LLC raised its position in Meta Platforms by 14.4% during the fourth quarter. Peddock Capital Advisors LLC now owns 3,014 shares of the social networking company’s stock valued at $1,765,000 after buying an additional 380 shares during the period. Finally, Parisi Gray Wealth Management increased its holdings in shares of Meta Platforms by 1.4% in the 4th quarter. Parisi Gray Wealth Management now owns 9,037 shares of the social networking company’s stock valued at $5,291,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.2 %

Meta Platforms stock opened at $608.33 on Tuesday. The business has a 50 day moving average price of $594.58 and a two-hundred day moving average price of $554.18. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The stock has a market cap of $1.54 trillion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 420 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the sale, the chief executive officer now owns 518,004 shares of the company’s stock, valued at $310,890,460.68. The trade was a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $580.65, for a total value of $239,808.45. Following the completion of the sale, the chief operating officer now owns 11,120 shares in the company, valued at $6,456,828. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 423,427 shares of company stock worth $256,996,450. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Susquehanna upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Morgan Stanley increased their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday. KeyCorp lifted their price objective on Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James reaffirmed a “strong-buy” rating and issued a $675.00 target price on shares of Meta Platforms in a research report on Monday, November 25th. Finally, Jefferies Financial Group lifted their price target on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $650.05.

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.