American Money Management LLC Acquires 6,952 Shares of Meta Platforms, Inc. (NASDAQ:META)

American Money Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 141.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,868 shares of the social networking company’s stock after purchasing an additional 6,952 shares during the quarter. Meta Platforms comprises 1.4% of American Money Management LLC’s holdings, making the stock its 24th largest holding. American Money Management LLC’s holdings in Meta Platforms were worth $6,949,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter valued at $36,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the 4th quarter worth about $41,000. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $43,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. JMP Securities restated a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Mizuho lifted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two equities research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Monday, December 30th. The stock was sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the transaction, the chief operating officer now directly owns 17,514 shares in the company, valued at approximately $10,318,548.24. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 584,823 shares of company stock worth $386,274,777. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Down 4.3 %

Shares of META stock opened at $576.74 on Friday. The company has a market capitalization of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The business’s fifty day moving average is $655.23 and its 200 day moving average is $609.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 previous year, the firm posted $5.33 earnings per share. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 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.