NEOS Investment Management LLC Has $102.06 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

NEOS Investment Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 174,315 shares of the social networking company’s stock after acquiring an additional 4,747 shares during the period. Meta Platforms accounts for about 2.4% of NEOS Investment Management LLC’s portfolio, making the stock its 7th largest position. NEOS Investment Management LLC’s holdings in Meta Platforms were worth $102,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Ballentine Partners LLC lifted its holdings in shares of Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after purchasing an additional 808 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after acquiring an additional 897 shares in the last quarter. Brueske Advisory Services LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $459,000. Apollon Financial LLC lifted its position in shares of Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after purchasing an additional 148 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Meta Platforms by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after purchasing an additional 110,040 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $602.58 on Friday. 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 fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm has a market cap of $1.53 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23. The business’s 50 day moving average price is $655.95 and its 200-day moving average price is $607.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the company posted $5.33 EPS. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is 8.78%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $589.16, for a total value of $243,323.08. Following the completion of the transaction, the chief operating officer now owns 17,514 shares in the company, valued at approximately $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. This trade represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 584,823 shares of company stock valued at $386,274,777. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup lifted their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Raymond James restated a “strong-buy” rating and set a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Argus set a $775.00 price objective on Meta Platforms in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their target price on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

About Meta Platforms

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.