One Degree Advisors Inc Takes $167,000 Position in Meta Platforms, Inc. (NASDAQ:META)

One Degree Advisors Inc acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 285 shares of the social networking company’s stock, valued at approximately $167,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $19,949,512,000. Proficio Capital Partners LLC grew its holdings in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $2,243,603,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Meta Platforms by 27.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after purchasing an additional 1,892,509 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after buying an additional 1,502,553 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total value of $525,577.86. Following the transaction, the insider now owns 30,261 shares in the company, valued at $17,268,742.26. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 498,899 shares of company stock valued at $333,868,573 over the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 1.1 %

Shares of Meta Platforms stock opened at $510.45 on Wednesday. The firm has a market cap of $1.29 trillion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.42 and a beta of 1.28. The stock has a 50-day simple moving average of $638.67 and a 200-day simple moving average of $609.42. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its earnings results 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 period in the previous year, the firm earned $5.33 earnings per share. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.41%. Meta Platforms’s dividend payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Oppenheimer raised their target price on Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Royal Bank of Canada boosted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Piper Sandler raised their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $790.00 target price on shares of Meta Platforms in a research report on Wednesday, April 2nd. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $713.07.

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.