Willis Investment Counsel Increases Stake in Meta Platforms, Inc. $META

Willis Investment Counsel increased its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,244 shares of the social networking company’s stock after buying an additional 1,143 shares during the period. Willis Investment Counsel’s holdings in Meta Platforms were worth $11,383,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Westchester Capital Management Inc. purchased a new position in shares of Meta Platforms during the third quarter valued at $26,000. Evergreen Private Wealth LLC boosted its position in Meta Platforms by 64.8% during the third quarter. Evergreen Private Wealth LLC now owns 89 shares of the social networking company’s stock valued at $65,000 after purchasing an additional 35 shares in the last quarter. PMV Capital Advisers LLC boosted its position in Meta Platforms by 26.3% during the fourth quarter. PMV Capital Advisers LLC now owns 96 shares of the social networking company’s stock valued at $63,000 after purchasing an additional 20 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Meta Platforms during the third quarter valued at about $71,000. Finally, Dorato Capital Management bought a new stake in Meta Platforms during the fourth quarter valued at about $62,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Trading Up 1.7%

Meta Platforms stock opened at $688.55 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.05 and a beta of 1.31. The stock has a 50-day moving average price of $627.49 and a 200 day moving average price of $651.83.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. During the same quarter in the previous year, the company posted $8.02 earnings per share. The company’s revenue was up 23.8% compared to the same quarter last year. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Monday, March 16th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s payout ratio is 8.94%.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. Guggenheim raised their price objective on Meta Platforms from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Mizuho raised their price objective on Meta Platforms from $815.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $860.00 price objective (up from $750.00) on shares of Meta Platforms in a research report on Thursday, January 29th. Rothschild & Co Redburn set a $900.00 price objective on Meta Platforms in a research report on Monday, January 26th. Finally, Erste Group Bank downgraded Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $837.72.

View Our Latest Report on META

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 2,778 shares of Meta Platforms stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the completion of the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 8,089 shares of Meta Platforms stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total value of $5,106,100.36. Following the transaction, the chief technology officer owned 2,841 shares of the company’s stock, valued at approximately $1,793,352.84. This represents a 74.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 165,079 shares of company stock worth $105,624,755. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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