Fox Run Management L.L.C. Takes $1.38 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Fox Run Management L.L.C. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,357 shares of the social networking company’s stock, valued at approximately $1,380,000.

Several other hedge funds have also modified their holdings of the stock. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the third quarter valued at $36,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter valued at about $40,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the fourth quarter worth about $41,000. Finally, Cordant Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth about $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the transaction, the chief technology officer now directly owns 5,139 shares in the company, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the sale, the insider now directly owns 32,103 shares in the company, valued at approximately $19,269,825.75. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 585,605 shares of company stock valued at $386,710,448. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META opened at $619.55 on Tuesday. The firm has a fifty day moving average of $655.60 and a 200-day moving average of $607.11. The company has a market cap of $1.57 trillion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate 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 in the previous year, the business posted $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is 8.78%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. Oppenheimer increased their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Barclays increased their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Truist Financial lifted their target price on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Pivotal Research raised their price objective on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Wolfe Research boosted their price objective on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Two 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’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $718.31.

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.