Full Sail Capital LLC Acquires 36 Shares of Meta Platforms, Inc. (NASDAQ:META)

Full Sail Capital LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,557 shares of the social networking company’s stock after purchasing an additional 36 shares during the period. Full Sail Capital LLC’s holdings in Meta Platforms were worth $912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of META. Valley Financial Group Inc. boosted its position in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after acquiring an additional 14 shares during the period. Seelaus Asset Management LLC grew its position in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning increased its holdings in shares of Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares during the period. Maiden Cove Capital LLC raised its position in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after buying an additional 15 shares in the last quarter. Finally, Riverwater Partners LLC boosted its stake in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after buying an additional 15 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.9 %

NASDAQ:META opened at $592.49 on Friday. The company has a market cap of $1.50 trillion, a PE ratio of 24.77, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The firm has a 50-day moving average of $568.87 and a 200-day moving average of $604.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the company posted $4.71 earnings per share. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 8.19%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on META. BMO Capital Markets lifted their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Susquehanna cut their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Bank of America raised their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Cantor Fitzgerald upped their price target on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, Raymond James lowered their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $696.45.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $592.52, for a total value of $545,710.92. Following the completion of the transaction, the insider now owns 25,656 shares in the company, valued at $15,201,693.12. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the transaction, the chief operating officer now directly owns 4,608 shares in the company, valued at $2,265,707.52. This trade represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,689 shares of company stock valued at $109,097,842. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.