Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Everett Harris & Co. CA

Everett Harris & Co. CA lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,272 shares of the social networking company’s stock after acquiring an additional 237 shares during the period. Everett Harris & Co. CA’s holdings in Meta Platforms were worth $4,698,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Stone House Investment Management LLC increased its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. MBM Wealth Consultants LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $26,000. Stephens Investment Management Group LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $30,000. Beaird Harris Wealth Management LLC raised its stake in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Finally, PayPay Securities Corp lifted its position in Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,504,435 shares of company stock worth $703,629,367. Corporate insiders own 13.75% of the company’s stock.

Meta Platforms Trading Down 1.7 %

META traded down $8.28 during trading hours on Thursday, reaching $485.58. The company’s stock had a trading volume of 15,191,214 shares, compared to its average volume of 17,907,553. The business’s 50-day moving average is $464.84 and its 200-day moving average is $375.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a market cap of $1.24 trillion, a PE ratio of 32.84, a P/E/G ratio of 1.28 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $202.54 and a fifty-two week high of $523.57.

Meta Platforms (NASDAQ:META) last announced its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter in the previous year, the company earned $3.00 earnings per share. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, equities research analysts predict that Meta Platforms, Inc. will post 19.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

Analyst Ratings Changes

A number of equities research analysts recently commented on META shares. Piper Sandler lifted their target price on Meta Platforms from $415.00 to $525.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Barclays increased their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Oppenheimer boosted their target price on shares of Meta Platforms from $385.00 to $525.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $420.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $500.00 target price on shares of Meta Platforms in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $496.35.

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.