Nemes Rush Group LLC Buys 1,348 Shares of Meta Platforms, Inc. (NASDAQ:META)

Nemes Rush Group LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 4.9% during the 4th quarter, HoldingsChannel reports. The firm owned 29,126 shares of the social networking company’s stock after acquiring an additional 1,348 shares during the quarter. Meta Platforms accounts for about 2.1% of Nemes Rush Group LLC’s investment portfolio, making the stock its 11th largest holding. Nemes Rush Group LLC’s holdings in Meta Platforms were worth $17,054,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Seelaus Asset Management LLC increased its stake in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after acquiring an additional 15 shares during the last quarter. Meredith Wealth Planning raised its stake in Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after purchasing an additional 15 shares in the last quarter. Maiden Cove Capital LLC lifted its position in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Stephens Consulting LLC grew its stake in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after buying an additional 16 shares in the last quarter. Finally, VeraBank N.A. increased its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after buying an additional 16 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

META stock opened at $576.36 on Tuesday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a 50-day simple moving average of $654.50 and a two-hundred day simple moving average of $610.25.

Meta Platforms (NASDAQ:META) last posted 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 net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the business earned $5.33 earnings per share. On average, equities analysts forecast 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 was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Analyst Ratings Changes

Several research firms recently commented on META. BMO Capital Markets lifted their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Susquehanna boosted their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Argus set a $775.00 price target on Meta Platforms in a report on Tuesday, February 4th. Truist Financial lifted their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Two 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $718.55.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $603.98, for a total transaction of $21,695,565.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00. Following the completion of the transaction, the insider now directly owns 33,024 shares of the company’s stock, valued at approximately $19,649,280. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 583,505 shares of company stock worth $385,495,911 in the last ninety days. 13.71% of the stock is owned by insiders.

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.