Quattro Financial Advisors LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 629 shares of the social networking company’s stock, valued at approximately $368,000. Meta Platforms comprises approximately 0.0% of Quattro Financial Advisors LLC’s holdings, making the stock its 4th largest holding.
Several other hedge funds have also made changes to their positions in the business. WT Asset Management Ltd lifted its holdings in shares of Meta Platforms by 75.2% during the fourth quarter. WT Asset Management Ltd now owns 106,848 shares of the social networking company’s stock worth $62,561,000 after purchasing an additional 45,848 shares during the period. Jericho Financial LLP purchased a new position in Meta Platforms during the 4th quarter worth $6,676,000. Berkshire Money Management Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter worth $750,000. Jackson Wealth Management LLC boosted its holdings in shares of Meta Platforms by 19.8% in the fourth quarter. Jackson Wealth Management LLC now owns 12,493 shares of the social networking company’s stock valued at $7,315,000 after acquiring an additional 2,069 shares in the last quarter. Finally, Spirit of America Management Corp NY increased its stake in shares of Meta Platforms by 14.3% during the fourth quarter. Spirit of America Management Corp NY now owns 1,000 shares of the social networking company’s stock worth $586,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. The Goldman Sachs Group lifted their price target on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Bank of America increased their price objective on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. TD Cowen boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $710.83.
Get Our Latest Analysis on META
Insider Activity at Meta Platforms
In related news, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms 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. Over the last quarter, insiders have sold 756,735 shares of company stock worth $475,285,232. Company insiders own 13.71% of the company’s stock.
Meta Platforms Trading Up 0.4 %
Shares of META stock opened at $717.40 on Tuesday. The firm has a market cap of $1.82 trillion, a P/E ratio of 29.99, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $725.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm’s 50-day simple moving average is $629.73 and its 200-day simple moving average is $576.95.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 quarter last year, the company posted $5.33 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.28%. Meta Platforms’s payout ratio is 8.36%.
Meta Platforms Company Profile
(Free Report)
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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