Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Napean Trading & Investment Co Singapore PTE Ltd

Napean Trading & Investment Co Singapore PTE Ltd lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,440 shares of the social networking company’s stock after purchasing an additional 3,139 shares during the quarter. Meta Platforms accounts for 6.0% of Napean Trading & Investment Co Singapore PTE Ltd’s holdings, making the stock its 3rd biggest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Meta Platforms were worth $24,264,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. JDM Financial Group LLC bought a new stake in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the 3rd quarter valued at $36,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $40,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the 4th quarter worth $41,000. Finally, Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at about $59,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a research note on Thursday, January 30th. Barclays upped their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. UBS Group upped their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Mizuho increased their price target on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $718.31.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,311 shares of Meta Platforms stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $600.21, for a total transaction of $1,387,085.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 585,605 shares of company stock valued at $386,710,448. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 1.2 %

META opened at $626.31 on Wednesday. The company has a market cap of $1.59 trillion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a fifty day moving average price of $656.24 and a two-hundred day moving average price of $608.00. 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, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $5.33 EPS. Analysts predict that Meta Platforms, Inc. will post 26.7 EPS 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. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 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.