RD Lewis Holdings Inc. Acquires Shares of 347 Meta Platforms, Inc. (NASDAQ:META)

RD Lewis Holdings Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 347 shares of the social networking company’s stock, valued at approximately $203,000.

Other hedge funds have also modified their holdings of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the 3rd quarter valued at about $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Finally, Bear Mountain Capital Inc. bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $70,000. 79.91% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was 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. Insiders sold a total of 622,844 shares of company stock valued at $409,212,161 over the last three months. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on META shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. DA Davidson upped their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group raised their target price on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Bank of America boosted their target price on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Meta Platforms Price Performance

NASDAQ:META opened at $586.00 on Friday. The stock has a market capitalization of $1.48 trillion, a PE ratio of 24.50, a P/E/G ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm has a fifty day simple moving average of $655.77 and a 200 day simple moving average of $604.56. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the firm posted $5.33 earnings per share. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio is currently 8.78%.

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.