Rovin Capital UT ADV Grows Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Rovin Capital UT ADV increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 25.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,318 shares of the social networking company’s stock after acquiring an additional 266 shares during the period. Rovin Capital UT ADV’s holdings in Meta Platforms were worth $772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at approximately $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter worth $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total transaction of $547,108.70. Following the completion of the transaction, the insider now directly owns 31,105 shares of the company’s stock, valued at $18,804,216.70. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 496,174 shares of company stock valued at $301,408,499. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the topic of several research analyst reports. Citigroup boosted their price objective on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird increased their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, UBS Group boosted their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Stock Down 0.9 %

Meta Platforms stock opened at $611.30 on Friday. The stock’s 50 day moving average price is $595.92 and its 200 day moving average price is $555.25. The company has a market cap of $1.54 trillion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1-year low of $358.61 and a 1-year high of $638.40.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. Meta Platforms’s payout ratio is 9.42%.

Meta Platforms 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.