CFO4Life Group LLC Purchases 79 Shares of Meta Platforms, Inc. (NASDAQ:META)

CFO4Life Group LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 7,325 shares of the social networking company’s stock after purchasing an additional 79 shares during the period. Meta Platforms comprises 0.8% of CFO4Life Group LLC’s investment portfolio, making the stock its 29th biggest position. CFO4Life Group LLC’s holdings in Meta Platforms were worth $4,289,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Intermede Investment Partners Ltd grew its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Intermede Investment Partners Ltd now owns 256,615 shares of the social networking company’s stock worth $150,251,000 after acquiring an additional 8,030 shares during the last quarter. PGGM Investments boosted its holdings in Meta Platforms by 6.4% in the 4th quarter. PGGM Investments now owns 194,458 shares of the social networking company’s stock valued at $113,857,000 after purchasing an additional 11,778 shares during the period. Lazard Freres Gestion S.A.S. grew its position in Meta Platforms by 159.0% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 125,774 shares of the social networking company’s stock worth $73,641,000 after purchasing an additional 77,217 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Meta Platforms by 11.9% during the 4th quarter. HBK Sorce Advisory LLC now owns 19,550 shares of the social networking company’s stock worth $11,447,000 after purchasing an additional 2,086 shares during the period. Finally, Penobscot Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $200,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.4 %

Meta Platforms stock opened at $604.90 on Tuesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a fifty day simple moving average of $657.51 and a 200 day simple moving average of $604.41. The company has a market cap of $1.53 trillion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating 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 previous year, the business posted $5.33 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on META shares. Wedbush reissued an “outperform” rating and set a $770.00 target price (up from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. DA Davidson lifted their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Bank of America upped their target price on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $719.26.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares of the company’s stock, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 902 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the completion of the sale, the insider now directly owns 27,488 shares in the company, valued at approximately $19,607,740.16. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 653,450 shares of company stock valued at $427,997,036. 13.71% of the stock is owned by corporate insiders.

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.