Adell Harriman & Carpenter Inc. Buys 166 Shares of Meta Platforms, Inc. (NASDAQ:META)

Adell Harriman & Carpenter Inc. lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,830 shares of the social networking company’s stock after purchasing an additional 166 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Meta Platforms were worth $1,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Intrust Bank NA increased its stake in Meta Platforms by 3.3% in the 4th quarter. Intrust Bank NA now owns 17,083 shares of the social networking company’s stock valued at $6,047,000 after buying an additional 543 shares during the last quarter. EWA LLC increased its stake in Meta Platforms by 20.3% in the 4th quarter. EWA LLC now owns 2,650 shares of the social networking company’s stock valued at $938,000 after buying an additional 447 shares during the last quarter. Naviter Wealth LLC increased its stake in shares of Meta Platforms by 13.4% during the 4th quarter. Naviter Wealth LLC now owns 5,933 shares of the social networking company’s stock worth $2,100,000 after purchasing an additional 703 shares during the last quarter. Bluesphere Advisors LLC increased its stake in shares of Meta Platforms by 8.7% during the 4th quarter. Bluesphere Advisors LLC now owns 997 shares of the social networking company’s stock worth $353,000 after purchasing an additional 80 shares during the last quarter. Finally, Chase Investment Counsel Corp increased its stake in shares of Meta Platforms by 652.8% during the 4th quarter. Chase Investment Counsel Corp now owns 18,851 shares of the social networking company’s stock worth $6,672,000 after purchasing an additional 16,347 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock traded up $3.40 during mid-day trading on Tuesday, hitting $436.02. The company had a trading volume of 4,548,036 shares, compared to its average volume of 18,256,715. The company has a 50-day moving average price of $493.66 and a 200 day moving average price of $406.15. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 1.15 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, research analysts anticipate that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Mizuho raised their price target on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. JMP Securities reiterated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Evercore ISI raised their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus raised their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the transaction, the insider now owns 37,228 shares in the company, valued at approximately $18,288,255. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the sale, the insider now directly owns 37,228 shares in the company, valued at approximately $18,288,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the sale, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,276,482 shares of company stock valued at $620,451,095. Insiders own 13.71% of the company’s stock.

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.