Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Florida Financial Advisors LLC

Florida Financial Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,675 shares of the social networking company’s stock after acquiring an additional 396 shares during the period. Meta Platforms makes up approximately 1.2% of Florida Financial Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Florida Financial Advisors LLC’s holdings in Meta Platforms were worth $2,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in META. JDM Financial Group LLC bought a new stake in Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth $36,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the fourth quarter worth $41,000. Finally, Cordant Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Oppenheimer lifted 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. Mizuho boosted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Raymond James restated a “strong-buy” rating and issued a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Citigroup upped their price target on Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Truist Financial increased their price objective on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two investment 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’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total value of $535,542.80. Following the completion of the transaction, the insider now owns 32,915 shares of the company’s stock, valued at $19,477,780.40. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at $3,785,747.13. The trade was a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 586,213 shares of company stock valued at $387,084,349 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 2.4 %

Meta Platforms stock opened at $610.98 on Thursday. The business’s 50-day simple moving average is $656.12 and its 200-day simple moving average is $608.02. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The firm has a market capitalization of $1.55 trillion, a PE ratio of 25.54, a PEG 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 (NASDAQ:META) last issued its quarterly 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company posted $5.33 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a dividend of $0.525 per share. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

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.