Old Port Advisors increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,116 shares of the social networking company’s stock after acquiring an additional 42 shares during the period. Old Port Advisors’ holdings in Meta Platforms were worth $1,825,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. International Private Wealth Advisors LLC acquired a new position in Meta Platforms in the 2nd quarter worth about $218,000. Bray Capital Advisors lifted its stake in Meta Platforms by 1.7% in the second quarter. Bray Capital Advisors now owns 2,768 shares of the social networking company’s stock valued at $1,396,000 after acquiring an additional 45 shares during the last quarter. Fortress Wealth Group LLC grew its position in Meta Platforms by 58.8% in the second quarter. Fortress Wealth Group LLC now owns 2,783 shares of the social networking company’s stock worth $1,360,000 after acquiring an additional 1,030 shares in the last quarter. Semus Wealth Partners LLC increased its stake in shares of Meta Platforms by 6.8% during the 2nd quarter. Semus Wealth Partners LLC now owns 2,506 shares of the social networking company’s stock worth $1,264,000 after purchasing an additional 159 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in shares of Meta Platforms by 23.0% during the 2nd quarter. Aptus Capital Advisors LLC now owns 82,425 shares of the social networking company’s stock valued at $41,560,000 after purchasing an additional 15,411 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Meta Platforms
In other news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 326,211 shares of company stock worth $197,633,759 over the last ninety days. Company insiders own 13.71% of the company’s stock.
Meta Platforms Price Performance
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.
Analysts Set New Price Targets
Several equities analysts have commented on META shares. UBS Group increased their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Scotiabank cut their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Barclays lifted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Two 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 issued 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 a consensus target price of $640.20.
Read Our Latest Research Report on META
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.
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