Meta Platforms, Inc. (NASDAQ:META) Holdings Lifted by CV Advisors LLC

CV Advisors LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 195.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,530 shares of the social networking company’s stock after buying an additional 5,641 shares during the period. Meta Platforms accounts for 1.7% of CV Advisors LLC’s investment portfolio, making the stock its 8th largest position. CV Advisors LLC’s holdings in Meta Platforms were worth $4,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in META. JDM Financial Group LLC purchased a new stake in Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 3rd quarter worth about $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the 4th quarter worth about $41,000. Cordant Inc. purchased a new stake in Meta Platforms during the 4th quarter worth about $59,000. Finally, Bear Mountain Capital Inc. purchased a new stake in Meta Platforms during the 4th quarter worth about $70,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. DA Davidson raised their price target on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target on the stock in a report on Thursday, January 30th. Bank of America raised their price target on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Scotiabank raised their price target on Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Finally, Oppenheimer raised their price target on Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares in the company, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $595.00, for a total value of $547,995.00. Following the transaction, the insider now owns 33,024 shares of the company’s stock, valued at $19,649,280. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 632,023 shares of company stock worth $414,734,884 in the last quarter. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 0.3 %

META opened at $584.06 on Thursday. The stock has a market cap of $1.48 trillion, a PE ratio of 24.42, a PEG ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $656.27 and a 200-day moving average of $604.69. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates 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 previous year, the firm posted $5.33 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) 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.