Meta Platforms, Inc. (NASDAQ:META) Shares Bought by MGO One Seven LLC

MGO One Seven LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,980 shares of the social networking company’s stock after purchasing an additional 4,101 shares during the period. Meta Platforms comprises 0.7% of MGO One Seven LLC’s portfolio, making the stock its 18th largest position. MGO One Seven LLC’s holdings in Meta Platforms were worth $18,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $40,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the 4th quarter valued at approximately $41,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the 4th quarter worth approximately $43,000. Cordant Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Conquis Financial LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at approximately $59,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 3.2 %

Shares of META stock opened at $500.28 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $598.76 and a 200 day simple moving average of $605.69. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 20.91, a P/E/G ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 company posted $5.33 EPS. On average, sell-side analysts expect 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 was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. 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 firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $627.59, for a total value of $259,194.67. Following the completion of the transaction, the chief operating officer now directly owns 15,862 shares in the company, valued at $9,954,832.58. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold a total of 342,662 shares of company stock valued at $237,476,709 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on META. The Goldman Sachs Group cut their price target on shares of Meta Platforms from $765.00 to $685.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wolfe Research upped their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Pivotal Research lifted their price target on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Scotiabank cut their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, Arete Research upgraded Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $681.67.

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.